UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-07319
Fidelity Covington Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)
Margaret Carey, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | June 30 |
Date of reporting period: | June 30, 2024 |
Item 1.
Reports to Stockholders
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Enhanced Large Cap Value ETF Fidelity® Enhanced Large Cap Value ETF : FELV Principal U.S. Listing Exchange : NYSEArca NYSE Arca, Inc. | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Enhanced Large Cap Value ETF | $ 25 | 0.28% |
- •U.S. equities gained considerably for the 12 months ending June 30, 2024, driven by resilient corporate profits, a frenzy over generative artificial intelligence and the Federal Reserve's likely pivot to cutting interest rates later this year. Amid this favorable backdrop for higher-risk assets, stocks continued their late-2023 momentum, powered by signs of continued U.S. economic strength.
- •Against this backdrop, security selection was the primary contributor to the fund's performance versus the benchmark, especially within information technology, where our stock picking in semiconductors & semiconductor equipment helped most. Picks in communication services, consumer staples and consumer discretionary also helped.
- •The top individual relative contributor was our non-benchmark stake in Nvidia (+194%). Other notable relative contributors included an overweight in Qualcomm (+70%) and a non-benchmark stake in Broadcom (+87%). This period we decreased our positions in Qualcomm and Broadcom.
- •In contrast, the largest detractor from performance versus the benchmark was stock picking in health care. Security selection in real estate, primarily within the equity real estate investment trusts (REITs) industry, also hampered the fund's result.
- •The biggest individual relative detractor was our non-benchmark stake in Teradata (-36%). The second-largest detractor was an overweight in Zimmer Biomet (-25%). This period we decreased our positions in Teradata and Zimmer Biomet. A stake in Hawaiian Electric Industries returned -66% and also notably hurt. Hawaiian Electric was not held at period end.
- •Notable changes in positioning include decreased exposure to consumer discretionary and health care.
Fidelity® Enhanced Large Cap Value ETF | $10,000 | $10,508 | $10,610 | $12,338 | $13,594 | $14,453 | $13,310 | $19,669 | $18,695 | $20,608 | $23,575 |
Russell 1000® Value Index | $10,000 | $10,413 | $10,711 | $12,375 | $13,212 | $14,331 | $13,064 | $18,771 | $17,491 | $19,509 | $22,057 |
Russell 1000® Index | $10,000 | $10,737 | $11,052 | $13,044 | $14,941 | $16,438 | $17,667 | $25,277 | $21,982 | $26,239 | $32,504 |
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
1 Year | 5 Year | 10 Year | |
Fidelity® Enhanced Large Cap Value ETF - NAV | 14.40% | 10.28% | 8.95% |
Fidelity® Enhanced Large Cap Value ETF - Market Price A | 14.60% | 10.32% | 8.97% |
Russell 1000® Value Index | 13.06% | 9.01% | 8.23% |
Russell 1000® Index | 23.88% | 14.61% | 12.51% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $1,792,516,935 | |
Number of Holdings | 333 | |
Total Advisory Fee | $5,908,652 | |
Portfolio Turnover | 90% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Financials | 22.4 | |
Industrials | 16.3 | |
Health Care | 14.3 | |
Information Technology | 10.8 | |
Consumer Staples | 7.3 | |
Energy | 6.7 | |
Consumer Discretionary | 5.6 | |
Communication Services | 4.5 | |
Materials | 4.4 | |
Utilities | 4.0 | |
Real Estate | 3.0 | |
Common Stocks | 99.3 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.7 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 100.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Berkshire Hathaway Inc Class B | 3.7 | |
JPMorgan Chase & Co | 3.1 | |
Exxon Mobil Corp | 2.8 | |
Bank of America Corp | 1.7 | |
Walmart Inc | 1.7 | |
Procter & Gamble Co/The | 1.4 | |
Unitedhealth Group Inc | 1.4 | |
Johnson & Johnson | 1.3 | |
Intel Corp | 1.2 | |
Pfizer Inc | 1.1 | |
19.4 | ||
The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:
| Fidelity Enhanced Large Cap Value ETF converted from Fidelity Enhanced Large Cap Value Index Fund on November 17, 2023. This move, approved by the Board of Trustees in June 2023, was deemed in the best interest of shareholders. The new ETF and its former corresponding fund have identical investment objectives and fundamental investment policies and have substantially similar investment strategies. Returns prior to the conversion are those of the former corresponding fund. Fidelity believes that the conversion will provide multiple benefits for investors of the fund, including lower net expenses, additional trading flexibility, increased portfolio holdings transparency and the potential for enhanced tax efficiency. Effective March 1, 2024, the fund's fiscal year end changed from August 31 to June 30. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913704.100 7542-TSRA-0824 |
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Enhanced Small Cap ETF Fidelity® Enhanced Small Cap ETF : FESM Principal U.S. Listing Exchange : NYSEArca NYSE Arca, Inc. | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Enhanced Small Cap ETF | $ 10 | 0.28% |
- •U.S. equities gained considerably for the 12 months ending June 30, 2024, driven by resilient corporate profits, a frenzy over generative artificial intelligence and the Federal Reserve's likely pivot to cutting interest rates later this year. Amid this favorable backdrop for higher-risk assets, stocks continued their late-2023 momentum, powered by signs of continued U.S. economic strength.
- •Against this backdrop, security selection was the primary contributor to the fund's performance versus the benchmark, led by industrials. Stock selection in consumer discretionary, consumer staples and materials also boosted the fund's relative performance.
- •The top individual relative contributor was an overweight in Super Micro Computer (+240%), which was our top stock holding. Overweight holdings in Abercrombie & Fitch (+376%) and Carvana (+160%) also notably helped. Abercrombie & Fitch and Carvana were among the fund's largest holdings at period end. The stake in Carvana was established this period.
- •In contrast, the biggest detractor from performance versus the benchmark was stock picking in real estate, primarily within the equity real estate investment trusts (REITs) industry. Security selection in health care also hampered the fund's result, as did an overweight in communication services.
- •The biggest individual relative detractor was an underweight in MicroStrategy (+302%), which ended the 12-month period as a top-10 fund holding. This was an investment we established this period. A second notable relative detractor was an overweight in CommScope (-78%). A stake in Omnicell returned -60% and also notably hurt. Omnicell was not held at period end.
- •Notable changes in positioning include decreased exposure to real estate and consumer discretionary.
Fidelity® Enhanced Small Cap ETF | $10,000 | $10,945 | $10,250 | $12,504 | $14,173 | $13,493 | $12,195 | $20,519 | $15,971 | $18,451 | $21,069 |
Russell 2000® Index | $10,000 | $10,649 | $9,932 | $12,375 | $14,549 | $14,067 | $13,135 | $21,283 | $15,920 | $17,879 | $19,677 |
Russell 3000® Index | $10,000 | $10,729 | $10,959 | $12,987 | $14,907 | $16,246 | $17,306 | $24,950 | $21,490 | $25,563 | $31,475 |
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
1 Year | 5 Year | 10 Year | |
Fidelity® Enhanced Small Cap ETF - NAV | 14.19% | 9.32% | 7.74% |
Fidelity® Enhanced Small Cap ETF - Market Price A | 14.29% | 9.34% | 7.75% |
Russell 2000® Index | 10.06% | 6.94% | 7.00% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $574,172,456 | |
Number of Holdings | 568 | |
Total Advisory Fee | $514,102 | |
Portfolio Turnover | 71% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Industrials | 19.0 | |
Financials | 15.1 | |
Health Care | 14.9 | |
Information Technology | 14.9 | |
Consumer Discretionary | 10.3 | |
Energy | 5.7 | |
Materials | 5.3 | |
Real Estate | 4.1 | |
Consumer Staples | 3.5 | |
Communication Services | 3.0 | |
Utilities | 2.2 | |
Common Stocks | 98.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 2.0 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 97.3 |
Thailand | 0.9 |
Ireland | 0.7 |
Puerto Rico | 0.7 |
Monaco | 0.2 |
Canada | 0.2 |
Norway | 0.0 |
Israel | 0.0 |
Germany | 0.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Abercrombie & Fitch Co Class A | 1.0 | |
Fabrinet | 0.9 | |
SPS Commerce Inc | 0.9 | |
Applied Industrial Technologies Inc | 0.8 | |
Taylor Morrison Home Corp | 0.8 | |
Carpenter Technology Corp | 0.7 | |
Installed Building Products Inc | 0.7 | |
Murphy Oil Corp | 0.7 | |
CommVault Systems Inc | 0.7 | |
SkyWest Inc | 0.7 | |
7.9 | ||
The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:
| Fidelity Enhanced Small Cap ETF converted from Fidelity Enhanced Small Cap Index Fund on November 17, 2023. This move, approved by the Board of Trustees in June 2023, was deemed in the best interest of shareholders. The new ETF and its former corresponding fund have identical investment objectives and fundamental investment policies and have substantially similar investment strategies. Returns prior to the conversion are those of the former corresponding fund. Fidelity believes that the conversion will provide multiple benefits for investors of the fund, including lower net expenses, additional trading flexibility, increased portfolio holdings transparency and the potential for enhanced tax efficiency. Effective March 1, 2024, the fund's fiscal year end changed from February 28 to June 30. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9912775.100 7545-TSRA-0824 |
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Enhanced Mid Cap ETF Fidelity® Enhanced Mid Cap ETF : FMDE Principal U.S. Listing Exchange : NYSEArca NYSE Arca, Inc. | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Enhanced Mid Cap ETF | $ 26 | 0.29% |
- •U.S. equities gained considerably for the 12 months ending June 30, 2024, driven by resilient corporate profits, a frenzy over generative artificial intelligence and the Federal Reserve's likely pivot to cutting interest rates later this year. Amid this favorable backdrop for higher-risk assets, stocks continued their late-2023 momentum, powered by signs of continued U.S. economic strength.
- •Against this backdrop, security selection was the primary contributor to the fund's performance versus the benchmark, led by industrials. Stock picking in information technology and consumer discretionary, and positioning in consumer staples and communication services, also boosted relative performance.
- •The top individual relative contributor was an overweight in Vistra (+233%). Overweight holdings in AppLovin (+217%) and Robinhood Markets (+126%) also helped.
- •In contrast, the biggest detractors from performance versus the benchmark were stock selection and an overweight in health care. An underweight in energy also hampered the fund's result, as did stock picking and an underweight in financials.
- •The largest individual relative detractor was an underweight in CrowdStrike Holdings (+161%). We established a position in the stock during the period. Other notable relative detractors included an overweight in 10x Genomics (-66%) and an underweight in Constellation Energy (+121%). The latter was an investment we established this period.
- •Notable changes in positioning include lower allocations to health care and real estate.
Fidelity® Enhanced Mid Cap ETF | $10,000 | $10,845 | $10,548 | $12,433 | $13,862 | $14,491 | $14,067 | $21,084 | $17,942 | $20,616 | $23,962 |
Russell Midcap® Index | $10,000 | $10,663 | $10,723 | $12,490 | $14,030 | $15,128 | $14,789 | $22,154 | $18,322 | $21,057 | $23,768 |
Russell 3000® Index | $10,000 | $10,729 | $10,959 | $12,987 | $14,907 | $16,246 | $17,306 | $24,950 | $21,490 | $25,563 | $31,475 |
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
1 Year | 5 Year | 10 Year | |
Fidelity® Enhanced Mid Cap ETF - NAV | 16.23% | 10.58% | 9.13% |
Fidelity® Enhanced Mid Cap ETF - Market Price A | 16.35% | 10.61% | 9.14% |
Russell Midcap® Index | 12.88% | 9.46% | 9.04% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $1,653,576,076 | |
Number of Holdings | 278 | |
Total Advisory Fee | $3,648,331 | |
Portfolio Turnover | 73% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Industrials | 18.9 | |
Financials | 16.4 | |
Information Technology | 14.8 | |
Consumer Discretionary | 12.1 | |
Health Care | 9.9 | |
Materials | 6.3 | |
Real Estate | 5.6 | |
Energy | 4.9 | |
Utilities | 4.0 | |
Consumer Staples | 3.9 | |
Communication Services | 2.4 | |
Common Stocks | 99.2 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.8 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 99.7 |
Israel | 0.3 |
Brazil | 0.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Simon Property Group Inc | 1.0 | |
Bank of New York Mellon Corp/The | 1.0 | |
Ross Stores Inc | 1.0 | |
Monolithic Power Systems Inc | 0.9 | |
Nucor Corp | 0.9 | |
DR Horton Inc | 0.9 | |
Cummins Inc | 0.9 | |
Cencora Inc | 0.9 | |
AMETEK Inc | 0.8 | |
Block Inc Class A | 0.8 | |
9.1 | ||
The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:
| Fidelity Enhanced Mid Cap ETF converted from Fidelity Enhanced Mid Cap Index Fund on November 17, 2023. This move, approved by the Board of Trustees in June 2023, was deemed in the best interest of shareholders. The new ETF and its former corresponding fund have identical investment objectives and fundamental investment policies and have substantially similar investment strategies. Returns prior to the conversion are those of the former corresponding fund. Fidelity believes that the conversion will provide multiple benefits for investors of the fund, including lower net expenses, additional trading flexibility, increased portfolio holdings transparency and the potential for enhanced tax efficiency. Effective March 1, 2024, the fund's fiscal year end changed from August 31 to June 30. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913707.100 7546-TSRA-0824 |
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Enhanced International ETF Fidelity® Enhanced International ETF : FENI Principal U.S. Listing Exchange : NYSEArca NYSE Arca, Inc. | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Enhanced International ETF | $ 32 | 0.36% |
- •International equities gained for the 12 months ending June 30, 2024, as global economic expansion amid improved financial conditions, fairly low volatility and firmer manufacturing activity provided a favorable backdrop for risk assets. Performance was largely driven by a narrow set of technology-focused firms riding high-growth megatrends, fanned by enthusiasm for artificial intelligence.
- •Against this backdrop, stock picks in the U.K. and stock picking and an underweight in Europe ex the U.K. contributed to the fund's performance versus the benchmark. By sector, security selection was the primary contributor, especially within industrials, where our picks in capital goods helped most. Stock selection in information technology, and picks and an underweight in consumer staples, also boosted relative performance, as did stock selection in health care, primarily within the pharmaceuticals, biotechnology & life sciences industry.
- •The top individual relative contributor was an overweight in Rolls-Royce Holdings (+193%). This period we decreased our position. Other notable relative contributors included overweight holdings in Disco (+141%) and Wix.com (+98%). We decreased our investment in Wix.com during the period.
- •In contrast, from a regional standpoint, an overweight in Asia Pacific ex Japan, primarily in Hong Kong, and security selection in emerging markets detracted from the fund's relative result. By sector, the biggest detractor from performance versus the benchmark was stock selection in communication services. Also hurting our result were stock picks and an underweight in financials, primarily within the banks industry, and selection and an overweight in consumer discretionary, primarily within the automobiles & components industry.
- •The largest individual relative detractor was an overweight in Genmab (-34%). Overweight stakes in Panasonic Holdings (-33%) and RWE (-23%) also hurt. RWE was not held at period end.
- •Notable changes in positioning include increased exposure to the Netherlands and a lower allocation to Sweden. By sector, meaningful changes in positioning include decreased exposure to consumer discretionary and a higher allocation to information technology.
Fidelity® Enhanced International ETF | $10,000 | $9,777 | $8,838 | $10,792 | $11,596 | $11,445 | $10,724 | $14,351 | $11,777 | $13,983 | $16,016 |
MSCI EAFE Index | $10,000 | $9,591 | $8,633 | $10,403 | $11,139 | $11,285 | $10,726 | $14,222 | $11,721 | $13,952 | $15,596 |
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
1 Year | 5 Year | 10 Year | |
Fidelity® Enhanced International ETF - NAV | 14.54% | 6.95% | 4.82% |
Fidelity® Enhanced International ETF - Market Price A | 14.45% | 6.94% | 4.81% |
MSCI EAFE Index | 11.79% | 6.69% | 4.54% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $1,557,851,321 | |
Number of Holdings | 285 | |
Total Advisory Fee | $4,154,555 | |
Portfolio Turnover | 109% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Financials | 19.1 | |
Industrials | 18.7 | |
Health Care | 13.8 | |
Information Technology | 11.2 | |
Consumer Discretionary | 9.3 | |
Materials | 8.2 | |
Consumer Staples | 6.5 | |
Energy | 3.4 | |
Utilities | 3.3 | |
Communication Services | 3.3 | |
Real Estate | 1.6 | |
Common Stocks | 97.8 |
Preferred Stocks | 0.6 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.6 |
ASSET ALLOCATION (% of Fund's net assets) |
Japan | 22.9 |
United States | 11.1 |
United Kingdom | 10.1 |
France | 8.2 |
Germany | 7.6 |
Australia | 6.5 |
Netherlands | 5.9 |
Switzerland | 5.6 |
Denmark | 4.1 |
Others | 18.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Novo Nordisk A/S Series B | 3.0 | |
ASML Holding NV | 1.9 | |
Shell PLC | 1.7 | |
Novartis AG | 1.7 | |
Roche Holding AG | 1.5 | |
TotalEnergies SE | 1.4 | |
Schneider Electric SE | 1.2 | |
Hitachi Ltd | 1.2 | |
ASML Holding NV depository receipt | 1.1 | |
Nestle SA | 1.1 | |
15.8 | ||
The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:
| Fidelity Enhanced International ETF converted from Fidelity Enhanced International Index Fund on November 17, 2023. This move, approved by the Board of Trustees in June 2023, was deemed in the best interest of shareholders. The new ETF and its former corresponding fund have identical investment objectives and fundamental investment policies and have substantially similar investment strategies. Returns prior to the conversion are those of the former corresponding fund. Fidelity believes that the conversion will provide multiple benefits for investors of the fund, including lower net expenses, additional trading flexibility, increased portfolio holdings transparency and the potential for enhanced tax efficiency. Effective March 1, 2024, the fund's fiscal year end changed from August 31 to June 30. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913706.100 7544-TSRA-0824 |
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Enhanced Large Cap Growth ETF Fidelity® Enhanced Large Cap Growth ETF : FELG Principal U.S. Listing Exchange : NYSEArca NYSE Arca, Inc. | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Enhanced Large Cap Growth ETF | $ 23 | 0.24% |
- •U.S. equities gained considerably for the 12 months ending June 30, 2024, driven by resilient corporate profits, a frenzy over generative artificial intelligence and the Federal Reserve's likely pivot to cutting interest rates later this year. Amid this favorable backdrop for higher-risk assets, stocks continued their late-2023 momentum, powered by signs of continued U.S. economic strength.
- •Against this backdrop, security selection was the primary contributor to the fund's performance versus the benchmark, especially within industrials. Stock picks and an underweight in consumer discretionary, and picks in information technology, also boosted relative performance, as did an underweight in consumer staples, primarily within the food, beverage & tobacco industry.
- •The top individual relative contributor was an overweight in Nvidia (+190%), which was one of our biggest holdings. Other notable relative contributors included a non-benchmark stake in Abercrombie & Fitch (+120%), an investment we established this period, and an underweight in Starbucks (-19%). Starbucks was not held at period end.
- •In contrast, the biggest detractor from performance versus the benchmark was security selection in health care, primarily within the health care equipment & services industry. Stock picking and an overweight in energy also hampered the fund's result.
- •The largest individual relative detractor was an overweight in Teradata (-33%). This period we increased our stake in the stock. The second-largest relative detractor was our non-benchmark stake in Bristol-Myers Squibb (-23%). An overweight in Lattice Semiconductor (-40%) also hurt. Lattice Semiconductor was not held at period end.
- •Notable changes in positioning include higher allocations to communication services and financials.
Fidelity® Enhanced Large Cap Growth ETF | $10,000 | $11,094 | $11,159 | $13,221 | $16,059 | $17,436 | $21,164 | $30,479 | $25,359 | $31,510 | $42,642 |
Russell 1000® Growth Index | $10,000 | $11,056 | $11,390 | $13,716 | $16,804 | $18,746 | $23,110 | $32,932 | $26,749 | $34,000 | $45,384 |
Russell 1000® Index | $10,000 | $10,737 | $11,052 | $13,044 | $14,941 | $16,438 | $17,667 | $25,277 | $21,982 | $26,239 | $32,504 |
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
1 Year | 5 Year | 10 Year | |
Fidelity® Enhanced Large Cap Growth ETF - NAV | 35.33% | 19.59% | 15.61% |
Fidelity® Enhanced Large Cap Growth ETF - Market Price A | 35.76% | 19.66% | 15.64% |
Russell 1000® Growth Index | 33.48% | 19.34% | 16.33% |
Russell 1000® Index | 23.88% | 14.61% | 12.51% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $2,686,905,203 | |
Number of Holdings | 112 | |
Total Advisory Fee | $4,395,441 | |
Portfolio Turnover | 58% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 49.1 | |
Communication Services | 13.4 | |
Consumer Discretionary | 13.3 | |
Health Care | 7.9 | |
Financials | 5.9 | |
Industrials | 5.4 | |
Consumer Staples | 1.6 | |
Materials | 1.2 | |
Energy | 1.1 | |
Utilities | 0.5 | |
Common Stocks | 99.4 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.6 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 99.8 |
Mexico | 0.1 |
Brazil | 0.1 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Microsoft Corp | 11.7 | |
NVIDIA Corp | 11.3 | |
Apple Inc | 11.2 | |
Amazon.com Inc | 6.1 | |
Meta Platforms Inc Class A | 4.4 | |
Alphabet Inc Class A | 3.8 | |
Alphabet Inc Class C | 3.7 | |
Broadcom Inc | 2.9 | |
Eli Lilly & Co | 2.3 | |
Mastercard Inc Class A | 1.8 | |
59.2 | ||
The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:
| Fidelity Enhanced Large Cap Growth ETF converted from Fidelity Enhanced Large Cap Growth Index Fund on November 17, 2023. This move, approved by the Board of Trustees in June 2023, was deemed in the best interest of shareholders. The new ETF and its former corresponding fund have identical investment objectives and fundamental investment policies and have substantially similar investment strategies. Returns prior to the conversion are those of the former corresponding fund. Fidelity believes that the conversion will provide multiple benefits for investors of the fund, including lower net expenses, additional trading flexibility, increased portfolio holdings transparency and the potential for enhanced tax efficiency. Effective March 1, 2024, the fund's fiscal year end changed from August 31 to June 30. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913705.100 7543-TSRA-0824 |
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Cloud Computing ETF Fidelity® Cloud Computing ETF : FCLD Principal U.S. Listing Exchange : CboeBZX Cboe BZX Exchange, Inc. | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Cloud Computing ETF | $ 45 | 0.40% |
Fidelity® Cloud Computing ETF | $10,000 | $6,331 | $7,755 | $9,629 |
Fidelity Cloud Computing Index℠ | $10,000 | $6,385 | $7,854 | $9,710 |
MSCI ACWI (All Country World Index) Index | $10,000 | $8,524 | $9,970 | $11,943 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund | |
Fidelity® Cloud Computing ETF - NAV A | 24.16% | -1.37% |
Fidelity® Cloud Computing ETF - Market Price B | 24.03% | -1.89% |
Fidelity Cloud Computing Index℠ A | 23.63% | -1.07% |
MSCI ACWI (All Country World Index) Index A | 19.79% | 6.70% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $77,121,561 | |
Number of Holdings | 51 | |
Total Advisory Fee | $225,751 | |
Portfolio Turnover | 33% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 92.3 | |
Real Estate | 6.2 | |
Industrials | 1.5 | |
Common Stocks | 100.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.0 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 93.7 |
Israel | 2.9 |
New Zealand | 1.9 |
China | 1.5 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Oracle Corp | 5.2 | |
Intuit Inc | 4.8 | |
Salesforce Inc | 4.7 | |
Servicenow Inc | 4.6 | |
Microsoft Corp | 4.5 | |
Equinix Inc | 3.3 | |
Datadog Inc Class A | 2.9 | |
Digital Realty Trust Inc | 2.9 | |
Workday Inc Class A | 2.9 | |
Snowflake Inc Class A | 2.8 | |
38.6 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913373.100 6443-TSRA-0824 |
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Electric Vehicles and Future Transportation ETF Fidelity® Electric Vehicles and Future Transportation ETF : FDRV Principal U.S. Listing Exchange : CBOE Cboe BZX Exchange, Inc. | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Electric Vehicles and Future Transportation ETF | $ 34 | 0.40% |
Fidelity® Electric Vehicles and Future Transportation ETF | $10,000 | $7,085 | $7,607 | $5,359 |
Fidelity Electric Vehicles and Future Transportation Index℠ | $10,000 | $7,184 | $7,751 | $5,483 |
MSCI ACWI (All Country World Index) Index | $10,000 | $8,524 | $9,970 | $11,943 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund | |
Fidelity® Electric Vehicles and Future Transportation ETF - NAV A | -29.55% | -20.38% |
Fidelity® Electric Vehicles and Future Transportation ETF - Market Price B | -30.25% | -21.12% |
Fidelity Electric Vehicles and Future Transportation Index℠ A | -29.25% | -19.71% |
MSCI ACWI (All Country World Index) Index A | 19.79% | 6.70% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $32,787,168 | |
Number of Holdings | 51 | |
Total Advisory Fee | $169,524 | |
Portfolio Turnover | 54% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Consumer Discretionary | 39.7 | |
Information Technology | 33.5 | |
Industrials | 18.6 | |
Materials | 8.0 | |
Common Stocks | 99.8 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.2 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 55.2 |
China | 18.7 |
Korea (South) | 8.5 |
Germany | 3.4 |
Singapore | 2.8 |
France | 2.7 |
Japan | 2.4 |
Bailiwick Of Jersey | 1.5 |
Israel | 1.4 |
Others | 3.4 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Tesla Inc | 5.5 | |
Uber Technologies Inc | 5.3 | |
Analog Devices Inc | 4.8 | |
NXP Semiconductors NV | 4.0 | |
BYD Co Ltd H Shares | 3.7 | |
Garmin Ltd | 3.4 | |
Infineon Technologies AG | 3.4 | |
ON Semiconductor Corp | 2.9 | |
Aptiv PLC | 2.9 | |
Skyworks Solutions Inc | 2.8 | |
38.7 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913375.100 6445-TSRA-0824 |
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Clean Energy ETF Fidelity® Clean Energy ETF : FRNW Principal U.S. Listing Exchange : CBOE Cboe BZX Exchange, Inc. | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Clean Energy ETF | $ 34 | 0.40% |
Fidelity® Clean Energy ETF | $10,000 | $8,388 | $8,397 | $5,931 |
Fidelity Clean Energy Index℠ | $10,000 | $8,508 | $8,539 | $6,049 |
MSCI ACWI (All Country World Index) Index | $10,000 | $8,524 | $9,970 | $11,943 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund | |
Fidelity® Clean Energy ETF - NAV A | -29.37% | -17.38% |
Fidelity® Clean Energy ETF - Market Price B | -29.77% | -17.94% |
Fidelity Clean Energy Index℠ A | -29.16% | -16.78% |
MSCI ACWI (All Country World Index) Index A | 19.79% | 6.70% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $25,386,822 | |
Number of Holdings | 52 | |
Total Advisory Fee | $112,407 | |
Portfolio Turnover | 45% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Utilities | 50.6 | |
Industrials | 32.3 | |
Information Technology | 16.7 | |
Common Stocks | 99.6 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.4 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 34.0 |
Spain | 9.5 |
Denmark | 9.0 |
China | 8.8 |
Canada | 7.5 |
New Zealand | 4.8 |
Germany | 4.5 |
Portugal | 3.4 |
Austria | 2.9 |
Others | 15.6 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
GE Vernova Inc | 5.4 | |
First Solar Inc | 4.2 | |
Vestas Wind Systems A/S | 4.1 | |
Energias DE Portugal SA | 3.4 | |
Orsted AS | 3.2 | |
Enphase Energy Inc | 3.2 | |
Verbund AG Class A | 2.9 | |
Meridian Energy Ltd | 2.7 | |
Northland Power Inc | 2.6 | |
NEXTracker Inc Class A | 2.6 | |
34.3 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913372.100 6442-TSRA-0824 |
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Digital Health ETF Fidelity® Digital Health ETF : FDHT Principal U.S. Listing Exchange : CBOE Cboe BZX Exchange, Inc. | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Digital Health ETF | $ 39 | 0.40% |
Fidelity® Digital Health ETF | $10,000 | $7,401 | $7,843 | $7,332 |
Fidelity Digital Health Index℠ | $10,000 | $7,441 | $7,913 | $7,427 |
MSCI ACWI (All Country World Index) Index | $10,000 | $8,524 | $9,970 | $11,943 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund | |
Fidelity® Digital Health ETF - NAV A | -6.52% | -10.72% |
Fidelity® Digital Health ETF - Market Price B | -7.03% | -11.24% |
Fidelity Digital Health Index℠ A | -6.14% | -10.30% |
MSCI ACWI (All Country World Index) Index A | 19.79% | 6.70% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $8,264,028 | |
Number of Holdings | 45 | |
Total Advisory Fee | $35,407 | |
Portfolio Turnover | 42% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Health Care | 87.4 | |
Consumer Staples | 6.2 | |
Industrials | 2.6 | |
Information Technology | 2.2 | |
Communication Services | 1.5 | |
Common Stocks | 99.9 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.1 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 66.2 |
Australia | 6.5 |
Netherlands | 5.9 |
Switzerland | 4.8 |
Japan | 4.7 |
China | 3.2 |
New Zealand | 3.2 |
Denmark | 2.2 |
Sweden | 2.2 |
Others | 1.1 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Intuitive Surgical Inc | 4.9 | |
Veeva Systems Inc Class A | 4.5 | |
Dexcom Inc | 4.4 | |
ResMed Inc | 4.2 | |
Koninklijke Philips NV | 4.1 | |
Insulet Corp | 3.8 | |
Cochlear Ltd | 3.7 | |
Sonova Holding AG | 3.6 | |
Fisher & Paykel Healthcare Corp Ltd | 3.2 | |
Pro Medicus Ltd | 2.8 | |
39.2 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913374.100 6444-TSRA-0824 |
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Enhanced Large Cap Core ETF Fidelity® Enhanced Large Cap Core ETF : FELC Principal U.S. Listing Exchange : NYSEArca NYSE Arca, Inc. | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Enhanced Large Cap Core ETF | $ 22 | 0.23% |
- • U.S. equities gained considerably for the 12 months ending June 30, 2024, driven by resilient corporate profits, a frenzy over generative artificial intelligence and the Federal Reserve's likely pivot to cutting interest rates later this year. Amid this favorable backdrop for higher-risk assets, stocks continued their late-2023 momentum, powered by signs of continued U.S. economic strength.
- •Against this backdrop, security selection was the primary contributor to the fund's performance versus the benchmark, especially within information technology. Stock selection in consumer discretionary, stock picks and an underweight in consumer staples, and picks and an overweight in communication services also boosted the fund's relative performance.
- •The top individual relative contributor was an overweight in Nvidia (+190%), which was the fund's largest holding at period end. An underweight in Tesla (-24%) and an overweight in Broadcom (+87%) also contributed. Broadcom was among the fund's biggest holdings.
- •In contrast, the biggest detractor from performance versus the benchmark was stock picking in health care, primarily within the pharmaceuticals, biotechnology & life sciences industry. Also hurting our result were security selection and an overweight in industrials, primarily within the capital goods industry, and stock picks and an underweight in energy.
- •The biggest individual relative detractor was our non-benchmark stake in Teradata (-36%). This period we increased our investment in the stock. Other notable relative detractors included an underweight in Eli Lilly (+94%) and a non-benchmark stake in Hawaiian Electric Industries (-54%). Hawaiian Electric was not held at period end.
- •Notable changes in positioning include increased exposure to communication services and a lower allocation to consumer discretionary.
Fidelity® Enhanced Large Cap Core ETF | $10,000 | $10,760 | $10,860 | $12,647 | $14,756 | $16,007 | $17,193 | $24,547 | $22,411 | $26,419 | $33,271 |
S&P 500® Index | $10,000 | $10,742 | $11,171 | $13,170 | $15,064 | $16,633 | $17,881 | $25,175 | $22,503 | $26,912 | $33,521 |
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
1 Year | 5 Year | 10 Year | |
Fidelity® Enhanced Large Cap Core ETF - NAV | 25.94% | 15.76% | 12.77% |
Fidelity® Enhanced Large Cap Core ETF - Market Price A | 26.28% | 15.82% | 12.80% |
S&P 500® Index | 24.56% | 15.05% | 12.86% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $2,911,234,375 | |
Number of Holdings | 201 | |
Total Advisory Fee | $4,204,212 | |
Portfolio Turnover | 58% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 31.7 | |
Health Care | 12.5 | |
Financials | 12.2 | |
Communication Services | 11.3 | |
Industrials | 9.9 | |
Consumer Discretionary | 9.7 | |
Consumer Staples | 4.3 | |
Energy | 3.0 | |
Materials | 2.4 | |
Utilities | 1.2 | |
Real Estate | 0.9 | |
Common Stocks | 99.1 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.9 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 100.0 |
Israel | 0.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
NVIDIA Corp | 7.1 | |
Apple Inc | 7.1 | |
Microsoft Corp | 6.7 | |
Amazon.com Inc | 3.9 | |
Meta Platforms Inc Class A | 2.9 | |
Alphabet Inc Class C | 2.5 | |
Alphabet Inc Class A | 2.3 | |
Berkshire Hathaway Inc Class B | 2.1 | |
Broadcom Inc | 2.0 | |
JPMorgan Chase & Co | 1.8 | |
38.4 | ||
The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:
| Fidelity Enhanced Large Cap Core ETF converted from Fidelity Enhanced Large Cap Core Index Fund on November 17, 2023. This move, approved by the Board of Trustees in June 2023, was deemed in the best interest of shareholders. The new ETF and its former corresponding fund have identical investment objectives and fundamental investment policies and have substantially similar investment strategies. Returns prior to the conversion are those of the former corresponding fund. Fidelity believes that the conversion will provide multiple benefits for investors of the fund, including lower net expenses, additional trading flexibility, increased portfolio holdings transparency and the potential for enhanced tax efficiency. Effective March 1, 2024, the fund's fiscal year end changed from August 31 to June 30. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913703.100 7541-TSRA-0824 |
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Crypto Industry and Digital Payments ETF Fidelity® Crypto Industry and Digital Payments ETF : FDIG Principal U.S. Listing Exchange : NASDAQ NASDAQ/NMS Global Market | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Crypto Industry and Digital Payments ETF | $ 51 | 0.40% |
Fidelity® Crypto Industry and Digital Payments ETF | $10,000 | $4,808 | $7,450 |
Fidelity Crypto Industry and Digital Payments Index℠ | $10,000 | $4,812 | $7,479 |
MSCI ACWI (All Country World Index) Index | $10,000 | $8,644 | $10,111 |
2022 | 2023 | 2024 |
1 Year | Life of Fund | |
Fidelity® Crypto Industry and Digital Payments ETF - NAV A | 52.67% | 6.02% |
Fidelity® Crypto Industry and Digital Payments ETF - Market Price B | 52.59% | 10.97% |
Fidelity Crypto Industry and Digital Payments Index℠ A | 53.31% | 6.42% |
MSCI ACWI (All Country World Index) Index A | 19.79% | 9.10% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $103,792,520 | |
Number of Holdings | 39 | |
Total Advisory Fee | $267,622 | |
Portfolio Turnover | 53% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 58.6 | |
Financials | 41.3 | |
Common Stocks | 99.9 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.1 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 62.7 |
Canada | 13.8 |
China | 5.0 |
Australia | 4.7 |
Brazil | 3.0 |
France | 2.5 |
Germany | 2.1 |
Japan | 1.6 |
Italy | 1.4 |
Others | 3.2 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Coinbase Global Inc Class A | 11.2 | |
Marathon Digital Holdings Inc | 9.3 | |
Cleanspark Inc | 6.8 | |
Terawulf Inc | 5.2 | |
Riot Platforms Inc | 5.2 | |
Hut 8 Corp (United States) | 4.8 | |
Iris Energy Ltd | 4.7 | |
Bitfarms Ltd/Canada (United States) | 3.6 | |
Core Scientific Inc | 3.5 | |
Cipher Mining Inc | 2.9 | |
57.2 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913376.100 6565-TSRA-0824 |
ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Metaverse ETF Fidelity® Metaverse ETF : FMET Principal U.S. Listing Exchange : NASDAQ NASDAQ/NMS Global Market | |
prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Metaverse ETF | $ 44 | 0.40% |
Fidelity® Metaverse ETF | $10,000 | $8,433 | $10,209 |
Fidelity Metaverse Index℠ | $10,000 | $8,444 | $10,274 |
MSCI ACWI (All Country World Index) Index | $10,000 | $8,644 | $10,111 |
2022 | 2023 | 2024 |
1 Year | Life of Fund | |
Fidelity® Metaverse ETF - NAV A | 19.25% | 9.36% |
Fidelity® Metaverse ETF - Market Price B | 18.53% | 11.61% |
Fidelity Metaverse Index℠ A | 19.79% | 9.89% |
MSCI ACWI (All Country World Index) Index A | 19.79% | 9.10% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $33,559,600 | |
Number of Holdings | 51 | |
Total Advisory Fee | $93,953 | |
Portfolio Turnover | 52% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 56.8 | |
Communication Services | 36.9 | |
Real Estate | 6.1 | |
Common Stocks | 99.8 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.2 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 73.1 |
China | 10.5 |
Korea (South) | 9.9 |
France | 2.7 |
Japan | 1.4 |
Sweden | 0.8 |
United Kingdom | 0.8 |
Taiwan | 0.8 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Adobe Inc | 5.0 | |
Samsung Electronics Co Ltd | 4.8 | |
Apple Inc | 4.7 | |
Microsoft Corp | 4.6 | |
Alphabet Inc Class A | 4.6 | |
Tencent Holdings Ltd | 4.5 | |
Meta Platforms Inc Class A | 4.5 | |
NVIDIA Corp | 4.4 | |
Advanced Micro Devices Inc | 4.3 | |
QUALCOMM Inc | 4.0 | |
45.4 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913377.100 6566-TSRA-0824 |
Item 2.
Code of Ethics
As of the end of the period, June 30, 2024, Fidelity Covington Trust (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
Item 3.
Audit Committee Financial Expert
The Board of Trustees of the trust has determined that Donald F. Donahue is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Donahue is independent for purposes of Item 3 of Form N-CSR.
Item 4.
Principal Accountant Fees and Services
Fees and Services
The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte Entities”) in each of the last two fiscal years for services rendered to Fidelity Clean Energy ETF, Fidelity Cloud Computing ETF, Fidelity Crypto Industry and Digital Payments ETF, Fidelity Digital Health ETF, Fidelity Electric Vehicles and Future Transportation ETF, and Fidelity Metaverse ETF (the “Funds”):
Services Billed by Deloitte Entities
June 30, 2024 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Clean Energy ETF | $15,600 | $- | $4,000 | $400 |
Fidelity Cloud Computing ETF | $15,600 | $- | $4,000 | $400 |
Fidelity Crypto Industry and Digital Payments ETF | $15,700 | $- | $4,300 | $400 |
Fidelity Digital Health ETF | $15,600 | $- | $4,000 | $400 |
Fidelity Electric Vehicles and Future Transportation ETF | $15,600 | $- | $4,000 | $400 |
Fidelity Metaverse ETF | $15,800 | $- | $4,300 | $400 |
June 30, 2023 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Clean Energy ETF | $14,400 | $- | $4,000 | $300 |
Fidelity Cloud Computing ETF | $14,400 | $- | $4,000 | $300 |
Fidelity Crypto Industry and Digital Payments ETF | $14,600 | $- | $4,300 | $300 |
Fidelity Digital Health ETF | $14,400 | $- | $4,000 | $300 |
Fidelity Electric Vehicles and Future Transportation ETF | $14,400 | $- | $4,000 | $300 |
Fidelity Metaverse ETF | $14,600 | $- | $4,300 | $300 |
A Amounts may reflect rounding.
The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity Enhanced International ETF, Fidelity Enhanced Large Cap Core ETF, Fidelity Enhanced Large Cap Growth ETF, Fidelity Enhanced Large Cap Value ETF, Fidelity Enhanced Mid Cap ETF, and
Fidelity Enhanced Small Cap ETF (the “Funds”):
Services Billed by PwC
June 30, 2024 FeesA,B
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Enhanced International ETF | $39,700 | $- | $9,800 | $700 |
Fidelity Enhanced Large Cap Core ETF | $39,200 | $- | $9,800 | $700 |
Fidelity Enhanced Large Cap Growth ETF | $39,200 | $- | $9,800 | $700 |
Fidelity Enhanced Large Cap Value ETF | $39,200 | $- | $9,800 | $700 |
Fidelity Enhanced Mid Cap ETF | $39,200 | $- | $9,800 | $700 |
Fidelity Enhanced Small Cap ETF | $- | $- | $- | $1,000 |
June 30, 2023 FeesA,B
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Enhanced International ETF | $- | $- | $- | $- |
Fidelity Enhanced Large Cap Core ETF | $- | $- | $- | $- |
Fidelity Enhanced Large Cap Growth ETF | $- | $- | $- | $- |
Fidelity Enhanced Large Cap Value ETF | $- | $- | $- | $- |
Fidelity Enhanced Mid Cap ETF | $- | $- | $- | $- |
Fidelity Enhanced Small Cap ETF | $- | $- | $- | $- |
A Amounts may reflect rounding.
B Fidelity Enhanced International ETF, Fidelity Enhanced Large Cap Core ETF, Fidelity Enhanced Large Cap Growth ETF, Fidelity Enhanced Large Cap Value ETF, Fidelity Enhanced Mid Cap ETF, and Fidelity Enhanced Small Cap ETF commenced operations on November 17, 2023.
The following table(s) present(s) fees billed by Deloitte Entities and PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) (“Fund Service Providers”):
Services Billed by Deloitte Entities
June 30, 2024A | June 30, 2023A | |
Audit-Related Fees | $200,000 | $80,000 |
Tax Fees | $- | $- |
All Other Fees | $1,929,500 | $- |
A Amounts may reflect rounding.
Services Billed by PwC
June 30, 2024A,B | June 30, 2023A,B | |
Audit-Related Fees | $9,437,800 | $8,699,200 |
Tax Fees | $61,000 | $1,000 |
All Other Fees | $35,000 | $- |
A Amounts may reflect rounding.
B May include amounts billed prior to the Fidelity Enhanced International ETF, Fidelity Enhanced Large Cap Core ETF, Fidelity Enhanced Large Cap Growth ETF, Fidelity Enhanced Large Cap Value ETF, Fidelity Enhanced Mid Cap ETF, and Fidelity Enhanced Small Cap ETF’s commencement of operations.
“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.
“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.
“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.
Assurance services must be performed by an independent public accountant.
* * *
The aggregate non-audit fees billed by Deloitte Entities and PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:
Billed By | June 30, 2024A,B | June 30, 2023A,B |
Deloitte Entities | $6,225,500 | $2,074,400 |
PwC | $15,061,900 | $14,153,000 |
A Amounts may reflect rounding.
B May include amounts billed prior to the Fidelity Enhanced International ETF, Fidelity Enhanced Large Cap Core ETF, Fidelity Enhanced Large Cap Growth ETF, Fidelity Enhanced Large Cap Value ETF, Fidelity Enhanced Mid Cap ETF, and Fidelity Enhanced Small Cap ETF’s commencement of operations.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities and PwC to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities and PwC in its(their) audit of the Fund(s), taking into account representations from Deloitte Entities and PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.
Audit Committee Pre-Approval Policies and Procedures
The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.
All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.
Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.
Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)
There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund’s(s’) last two fiscal years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).
The Registrant has not retained, for the preparation of the audit report on the financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board (the “PCAOB”) has determined that the PCAOB is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction.
The Registrant is not a “foreign issuer,” as defined in 17 CFR 240.3b-4.
Item 5.
Audit Committee of Listed Registrants
The Audit Committee is a separately-designated standing audit committee in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934. As of June 30, 2024, the members of the Audit Committee were Donald F. Donahue, Thomas P. Bostick, Thomas Kennedy and Susan Tomasky.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable.
Item 7.
Financial Statements and Financial Highlights for Open-End Management Investment Companies
Contents
Common Stocks - 99.6% | |||
Shares | Value ($) | ||
INDUSTRIALS - 32.2% | |||
Construction & Engineering - 5.6% | |||
Ameresco, Inc. Class A (a) | 12,000 | 345,720 | |
Cadeler A/S (a) | 66,787 | 422,770 | |
OX2 AB (a) | 68,146 | 382,550 | |
West Holdings Corp. | 16,700 | 270,547 | |
1,421,587 | |||
Electrical Equipment - 26.6% | |||
Array Technologies, Inc. (a) | 37,212 | 381,795 | |
Bloom Energy Corp. Class A (a) | 39,145 | 479,135 | |
CS Wind Corp. | 11,293 | 406,105 | |
Doosan Fuel Cell Co. Ltd. (a) | 21,702 | 333,452 | |
GE Vernova LLC | 7,948 | 1,363,160 | |
Goldwind Science & Technology Co. Ltd. (H Shares) | 623,200 | 253,833 | |
Nextracker, Inc. Class A (a) | 13,942 | 653,601 | |
Nordex SE (a) | 32,879 | 403,124 | |
Plug Power, Inc. (a) | 161,528 | 376,360 | |
Shoals Technologies Group, Inc. (a) | 61,145 | 381,545 | |
Sunrun, Inc. (a) | 40,967 | 485,869 | |
TPI Composites, Inc. (a) | 46,412 | 185,184 | |
Vestas Wind Systems A/S (a) | 44,877 | 1,039,984 | |
6,743,147 | |||
TOTAL INDUSTRIALS | 8,164,734 | ||
INFORMATION TECHNOLOGY - 16.7% | |||
Electronic Equipment, Instruments & Components - 1.9% | |||
Landis+Gyr Group AG | 5,900 | 476,675 | |
Semiconductors & Semiconductor Equipment - 14.8% | |||
Canadian Solar, Inc. (a) | 21,515 | 317,346 | |
Enphase Energy, Inc. (a) | 8,120 | 809,645 | |
First Solar, Inc. (a) | 4,645 | 1,047,262 | |
Flat Glass Group Co. Ltd. | 188,000 | 276,917 | |
JinkoSolar Holdings Co. Ltd. ADR | 15,663 | 324,537 | |
SMA Solar Technology AG | 7,612 | 215,049 | |
SolarEdge Technologies, Inc. (a) | 11,854 | 299,432 | |
Xinyi Solar Holdings Ltd. | 922,000 | 464,106 | |
3,754,294 | |||
TOTAL INFORMATION TECHNOLOGY | 4,230,969 | ||
UTILITIES - 50.7% | |||
Electric Utilities - 13.9% | |||
Acciona SA | 4,653 | 550,050 | |
Energias de Portugal SA | 230,611 | 864,804 | |
Mercury Nz Ltd. | 138,507 | 554,081 | |
ORSTED A/S (a)(b) | 15,346 | 817,342 | |
Verbund AG | 9,432 | 744,509 | |
3,530,786 | |||
Independent Power and Renewable Electricity Producers - 36.8% | |||
Atlantica Sustainable Infrastructure PLC | 21,311 | 467,776 | |
Boralex, Inc. Class A | 20,783 | 508,962 | |
Brookfield Renewable Corp. | 20,917 | 592,497 | |
China Datang Corp. Renewable Power Co. Ltd. | 1,375,000 | 355,752 | |
China Longyuan Power Grid Corp. Ltd. (H Shares) | 634,000 | 570,059 | |
Clearway Energy, Inc. Class C | 19,124 | 472,172 | |
Corp. ACCIONA Energias Renovables SA | 18,931 | 390,163 | |
EDP Renovaveis SA | 42,622 | 596,126 | |
Encavis AG | 28,920 | 530,015 | |
Enlight Renewable Energy Ltd. (a) | 30,263 | 480,792 | |
ERG SpA | 16,887 | 424,232 | |
Innergex Renewable Energy, Inc. | 56,513 | 422,500 | |
Meridian Energy Ltd. | 175,567 | 672,915 | |
Neoen SA (b) | 14,736 | 594,776 | |
Northland Power, Inc. | 38,315 | 658,581 | |
Ormat Technologies, Inc. | 8,688 | 622,930 | |
ReNew Energy Global PLC (a) | 53,239 | 332,211 | |
RENOVA, Inc. (a) | 41,200 | 254,587 | |
Solaria Energia y Medio Ambiente SA (a) | 31,932 | 395,962 | |
9,343,008 | |||
TOTAL UTILITIES | 12,873,794 | ||
TOTAL COMMON STOCKS (Cost $35,344,672) | 25,269,497 | ||
Money Market Funds - 0.1% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (c) (Cost $32,219) | 32,213 | 32,219 | |
TOTAL INVESTMENT IN SECURITIES - 99.7% (Cost $35,376,891) | 25,301,716 |
NET OTHER ASSETS (LIABILITIES) - 0.3% | 85,106 |
NET ASSETS - 100.0% | 25,386,822 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 3 | Sep 2024 | 82,823 | 268 | 268 |
The notional amount of futures purchased as a percentage of Net Assets is 0.3% |
(a) | Non-income producing |
(b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,412,118 or 5.6% of net assets. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | - | 986,135 | 953,916 | 235 | - | - | 32,219 | 0.0% |
Total | - | 986,135 | 953,916 | 235 | - | - | 32,219 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Industrials | 8,164,734 | 8,164,734 | - | - |
Information Technology | 4,230,969 | 4,230,969 | - | - |
Utilities | 12,873,794 | 12,873,794 | - | - |
Money Market Funds | 32,219 | 32,219 | - | - |
Total Investments in Securities: | 25,301,716 | 25,301,716 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 268 | 268 | - | - |
Total Assets | 268 | 268 | - | - |
Total Derivative Instruments: | 268 | 268 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 268 | 0 |
Total Equity Risk | 268 | 0 |
Total Value of Derivatives | 268 | 0 |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $35,344,672) | $ | 25,269,497 | ||
Fidelity Central Funds (cost $32,219) | 32,219 | |||
Total Investment in Securities (cost $35,376,891) | $ | 25,301,716 | ||
Segregated cash with brokers for derivative instruments | 5,900 | |||
Foreign currency held at value (cost $10,183) | 10,177 | |||
Dividends receivable | 86,613 | |||
Reclaims receivable | 20,181 | |||
Distributions receivable from Fidelity Central Funds | 54 | |||
Receivable from investment adviser for expense reductions | 5,060 | |||
Total assets | 25,429,701 | |||
Liabilities | ||||
Payable to custodian bank | $ | 303 | ||
Payable for investments purchased | 25,314 | |||
Accrued management fee | 8,991 | |||
Payable for daily variation margin on futures contracts | 368 | |||
Proxy fee payable | 7,903 | |||
Total liabilities | 42,879 | |||
Net Assets | $ | 25,386,822 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 44,613,519 | ||
Total accumulated earnings (loss) | (19,226,697) | |||
Net Assets | $ | 25,386,822 | ||
Net Asset Value, offering price and redemption price per share ($25,386,822 ÷ 1,750,000 shares) | $ | 14.51 |
Statement of Operations | ||||
Year ended June 30, 2024 | ||||
Investment Income | ||||
Dividends | $ | 484,689 | ||
Income from Fidelity Central Funds | 235 | |||
Income before foreign taxes withheld | $ | 484,924 | ||
Less foreign taxes withheld | (44,236) | |||
Total income | 440,688 | |||
Expenses | ||||
Management fee | $ | 112,407 | ||
Independent trustees' fees and expenses | 155 | |||
Proxy | 7,903 | |||
Total expenses before reductions | 120,465 | |||
Expense reductions | (5,266) | |||
Total expenses after reductions | 115,199 | |||
Net Investment income (loss) | 325,489 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (6,083,315) | |||
Redemptions in-kind | 123,957 | |||
Foreign currency transactions | (928) | |||
Futures contracts | 1,319 | |||
Total net realized gain (loss) | (5,958,967) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (5,409,835) | |||
Assets and liabilities in foreign currencies | (449) | |||
Futures contracts | 268 | |||
Total change in net unrealized appreciation (depreciation) | (5,410,016) | |||
Net gain (loss) | (11,368,983) | |||
Net increase (decrease) in net assets resulting from operations | $ | (11,043,494) |
Statement of Changes in Net Assets | ||||
Year ended June 30, 2024 | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 325,489 | $ | 267,416 |
Net realized gain (loss) | (5,958,967) | (1,728,914) | ||
Change in net unrealized appreciation (depreciation) | (5,410,016) | (190,092) | ||
Net increase (decrease) in net assets resulting from operations | (11,043,494) | (1,651,590) | ||
Distributions to shareholders | (378,500) | (306,800) | ||
Share transactions | ||||
Proceeds from sales of shares | - | 14,295,218 | ||
Cost of shares redeemed | (1,695,052) | (2,120,671) | ||
Net increase (decrease) in net assets resulting from share transactions | (1,695,052) | 12,174,547 | ||
Total increase (decrease) in net assets | (13,117,046) | 10,216,157 | ||
Net Assets | ||||
Beginning of period | 38,503,868 | 28,287,711 | ||
End of period | $ | 25,386,822 | $ | 38,503,868 |
Other Information | ||||
Shares | ||||
Sold | - | 600,000 | ||
Redeemed | (100,000) | (100,000) | ||
Net increase (decrease) | (100,000) | 500,000 | ||
Fidelity® Clean Energy ETF |
Years ended June 30, | 2024 | 2023 | 2022 A | |||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 20.81 | $ | 20.95 | $ | 25.12 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .18 | .15 | .15 | |||
Net realized and unrealized gain (loss) | (6.27) | (.12) | (4.20) | |||
Total from investment operations | (6.09) | .03 | (4.05) | |||
Distributions from net investment income | (.21) | (.17) | (.12) | |||
Total distributions | (.21) | (.17) | (.12) | |||
Net asset value, end of period | $ | 14.51 | $ | 20.81 | $ | 20.95 |
Total Return D,E,F | (29.37) % | .10% | (16.12)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | .42% | .39% | .39% I | |||
Expenses net of fee waivers, if any | .40 % | .39% | .39% I | |||
Expenses net of all reductions | .40% | .39% | .39% I | |||
Net investment income (loss) | 1.13% | .69% | .90% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 25,387 | $ | 38,504 | $ | 28,288 |
Portfolio turnover rate J,K | 45 % | 37% | 30% L |
Common Stocks - 100.0% | |||
Shares | Value ($) | ||
INDUSTRIALS - 1.6% | |||
Professional Services - 1.6% | |||
Dayforce, Inc. (a) | 23,918 | 1,186,333 | |
INFORMATION TECHNOLOGY - 92.3% | |||
Communications Equipment - 1.7% | |||
F5, Inc. (a) | 7,694 | 1,325,138 | |
IT Services - 8.7% | |||
Digitalocean Holdings, Inc. (a) | 19,813 | 688,502 | |
Fastly, Inc. Class A (a) | 75,341 | 555,263 | |
Kingsoft Cloud Holdings Ltd. (a) | 2,158,000 | 378,674 | |
MongoDB, Inc. Class A (a) | 6,583 | 1,645,487 | |
Snowflake, Inc. (a) | 15,775 | 2,131,045 | |
Twilio, Inc. Class A (a) | 22,871 | 1,299,302 | |
6,698,273 | |||
Software - 67.8% | |||
Atlassian Corp. PLC Class A, (a) | 11,072 | 1,958,415 | |
Box, Inc. Class A (a) | 34,749 | 918,764 | |
C3.ai, Inc. (a) | 28,005 | 811,025 | |
CommVault Systems, Inc. (a) | 9,022 | 1,096,805 | |
Confluent, Inc. (a) | 40,789 | 1,204,499 | |
Datadog, Inc. Class A (a) | 17,459 | 2,264,258 | |
Dropbox, Inc. Class A (a) | 48,572 | 1,091,413 | |
Dynatrace, Inc. (a) | 28,704 | 1,284,217 | |
Elastic NV (a) | 11,518 | 1,312,015 | |
Five9, Inc. (a) | 20,644 | 910,400 | |
GitLab, Inc. (a) | 21,218 | 1,054,959 | |
HubSpot, Inc. (a) | 3,090 | 1,822,451 | |
Informatica, Inc. (a) | 21,687 | 669,695 | |
Intuit, Inc. | 5,672 | 3,727,695 | |
JFrog Ltd. (a) | 25,435 | 955,084 | |
Kingdee International Software Group Co. Ltd. (a) | 831,500 | 779,591 | |
Microsoft Corp. | 7,831 | 3,500,065 | |
MicroStrategy, Inc. Class A (a) | 1,037 | 1,428,447 | |
NICE Ltd. (a) | 7,948 | 1,299,841 | |
Nutanix, Inc. Class A (a) | 26,374 | 1,499,362 | |
Oracle Corp. | 28,354 | 4,003,584 | |
Pagerduty, Inc. (a) | 37,413 | 857,880 | |
Pegasystems, Inc. | 13,915 | 842,275 | |
RingCentral, Inc. (a) | 24,570 | 692,874 | |
Salesforce, Inc. | 14,039 | 3,609,427 | |
ServiceNow, Inc. (a) | 4,463 | 3,510,908 | |
SolarWinds, Inc. | 43,584 | 525,187 | |
Teradata Corp. (a) | 27,302 | 943,557 | |
UiPath, Inc. Class A (a) | 85,259 | 1,081,084 | |
Verint Systems, Inc. (a) | 22,398 | 721,216 | |
Vertex, Inc. Class A (a) | 20,006 | 721,216 | |
Workday, Inc. Class A (a) | 9,984 | 2,232,023 | |
Xero Ltd. (a) | 16,320 | 1,486,666 | |
Zoom Video Communications, Inc. Class A (a) | 24,313 | 1,439,086 | |
52,255,984 | |||
Technology Hardware, Storage & Peripherals - 14.1% | |||
Hewlett Packard Enterprise Co. | 90,308 | 1,911,820 | |
NetApp, Inc. | 14,363 | 1,849,954 | |
Pure Storage, Inc. Class A (a) | 25,117 | 1,612,763 | |
Seagate Technology Holdings PLC | 16,496 | 1,703,542 | |
Super Micro Computer, Inc. (a) | 2,562 | 2,099,175 | |
Western Digital Corp. (a) | 22,758 | 1,724,374 | |
10,901,628 | |||
TOTAL INFORMATION TECHNOLOGY | 71,181,023 | ||
REAL ESTATE - 6.1% | |||
Equity Real Estate Investment Trusts (REITs) - 6.1% | |||
Digital Realty Trust, Inc. | 14,730 | 2,239,697 | |
Equinix, Inc. | 3,273 | 2,476,352 | |
4,716,049 | |||
TOTAL COMMON STOCKS (Cost $72,730,273) | 77,083,405 | ||
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $72,730,273) | 77,083,405 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | 38,156 |
NET ASSETS - 100.0% | 77,121,561 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini NASDAQ 100 Index Contracts (United States) | 1 | Sep 2024 | 39,855 | (30) | (30) |
The notional amount of futures purchased as a percentage of Net Assets is 0.1% |
(a) | Non-income producing |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 13,981 | 3,749,763 | 3,763,745 | 4,235 | 1 | - | - | 0.0% |
Total | 13,981 | 3,749,763 | 3,763,745 | 4,235 | 1 | - | - | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Industrials | 1,186,333 | 1,186,333 | - | - |
Information Technology | 71,181,023 | 71,181,023 | - | - |
Real Estate | 4,716,049 | 4,716,049 | - | - |
Total Investments in Securities: | 77,083,405 | 77,083,405 | - | - |
Derivative Instruments: Liabilities | ||||
Futures Contracts | (30) | (30) | - | - |
Total Liabilities | (30) | (30) | - | - |
Total Derivative Instruments: | (30) | (30) | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 0 | (30) |
Total Equity Risk | 0 | (30) |
Total Value of Derivatives | 0 | (30) |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $72,730,273): | $ | 77,083,405 | ||
Segregated cash with brokers for derivative instruments | 1,770 | |||
Cash | 18,934 | |||
Foreign currency held at value (cost $15,431) | 15,398 | |||
Dividends receivable | 33,573 | |||
Distributions receivable from Fidelity Central Funds | 113 | |||
Receivable from investment adviser for expense reductions | 4,036 | |||
Total assets | 77,157,229 | |||
Liabilities | ||||
Accrued management fee | $ | 24,667 | ||
Payable for daily variation margin on futures contracts | 225 | |||
Proxy fee payable | 10,477 | |||
Other payables and accrued expenses | 299 | |||
Total liabilities | 35,668 | |||
Net Assets | $ | 77,121,561 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 79,235,665 | ||
Total accumulated earnings (loss) | (2,114,104) | |||
Net Assets | $ | 77,121,561 | ||
Net Asset Value, offering price and redemption price per share ($77,121,561 ÷ 3,200,000 shares) | $ | 24.10 |
Statement of Operations | ||||
Year ended June 30, 2024 | ||||
Investment Income | ||||
Dividends | $ | 287,754 | ||
Special dividends | 45,544 | |||
Interest | 340 | |||
Income from Fidelity Central Funds | 4,235 | |||
Total income | 337,873 | |||
Expenses | ||||
Management fee | $ | 225,751 | ||
Independent trustees' fees and expenses | 252 | |||
Miscellaneous | 10,477 | |||
Total expenses before reductions | 236,480 | |||
Expense reductions | (4,563) | |||
Total expenses after reductions | 231,917 | |||
Net Investment income (loss) | 105,956 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (1,680,596) | |||
Redemptions in-kind | 7,002,313 | |||
Fidelity Central Funds | 1 | |||
Foreign currency transactions | (3,590) | |||
Futures contracts | 24,982 | |||
Total net realized gain (loss) | 5,343,110 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 4,566,761 | |||
Assets and liabilities in foreign currencies | (126) | |||
Futures contracts | (1,226) | |||
Total change in net unrealized appreciation (depreciation) | 4,565,409 | |||
Net gain (loss) | 9,908,519 | |||
Net increase (decrease) in net assets resulting from operations | $ | 10,014,475 |
Statement of Changes in Net Assets | ||||
Year ended June 30, 2024 | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 105,956 | $ | 52,100 |
Net realized gain (loss) | 5,343,110 | (3,453,552) | ||
Change in net unrealized appreciation (depreciation) | 4,565,409 | 8,601,590 | ||
Net increase (decrease) in net assets resulting from operations | 10,014,475 | 5,200,138 | ||
Distributions to shareholders | (106,250) | (48,880) | ||
Distributions to shareholders from tax return of capital | - | (14,820) | ||
Total Distributions | (106,250) | (63,700) | ||
Share transactions | ||||
Proceeds from sales of shares | 44,981,125 | 13,508,181 | ||
Cost of shares redeemed | (14,705,337) | - | ||
Net increase (decrease) in net assets resulting from share transactions | 30,275,788 | 13,508,181 | ||
Total increase (decrease) in net assets | 40,184,013 | 18,644,619 | ||
Net Assets | ||||
Beginning of period | 36,937,548 | 18,292,929 | ||
End of period | $ | 77,121,561 | $ | 36,937,548 |
Other Information | ||||
Shares | ||||
Sold | 1,950,000 | 750,000 | ||
Redeemed | (650,000) | - | ||
Net increase (decrease) | 1,300,000 | 750,000 | ||
Fidelity® Cloud Computing ETF |
Years ended June 30, | 2024 | 2023 | 2022 A | |||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 19.44 | $ | 15.91 | $ | 25.20 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .04 D | .04 | .06 | |||
Net realized and unrealized gain (loss) | 4.66 | 3.53 | (9.29) | |||
Total from investment operations | 4.70 | 3.57 | (9.23) | |||
Distributions from net investment income | (.04) | (.03) | (.06) | |||
Distributions from tax return of capital | - | (.01) | - | |||
Total distributions | (.04) | (.04) | (.06) | |||
Net asset value, end of period | $ | 24.10 | $ | 19.44 | $ | 15.91 |
Total Return E,F,G | 24.16 % | 22.51% | (36.69)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | .41% | .39% | .39% J | |||
Expenses net of fee waivers, if any | .40 % | .39% | .39% J | |||
Expenses net of all reductions | .40% | .39% | .39% J | |||
Net investment income (loss) | .18% D | .23% | .41% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 77,122 | $ | 36,938 | $ | 18,293 |
Portfolio turnover rate K,L | 33 % | 38% | 31% M |
Common Stocks - 99.9% | |||
Shares | Value ($) | ||
FINANCIALS - 41.3% | |||
Capital Markets - 13.8% | |||
Bakkt Holdings, Inc. Class A (a) | 82,719 | 1,565,043 | |
Bitcoin Group SE | 19,842 | 1,103,688 | |
Coinbase Global, Inc. (a) | 52,291 | 11,620,632 | |
14,289,363 | |||
Financial Services - 27.5% | |||
Cielo SA | 1,475,000 | 1,495,063 | |
Corpay, Inc. (a) | 6,688 | 1,781,750 | |
Dlocal Ltd. (a) | 143,876 | 1,163,957 | |
Edenred SA | 33,872 | 1,430,674 | |
Flywire Corp. (a) | 92,727 | 1,519,796 | |
Galaxia Moneytree Co. Ltd. | 224,024 | 953,709 | |
Global Payments, Inc. | 17,548 | 1,696,892 | |
GMO Payment Gateway, Inc. | 30,200 | 1,662,070 | |
Marqeta, Inc. Class A (a) | 298,324 | 1,634,816 | |
MasterCard, Inc. Class A | 3,877 | 1,710,377 | |
Network International Holdings PLC (a)(b) | 248,219 | 1,226,855 | |
Nexi SpA (a)(b) | 238,920 | 1,458,020 | |
Nuvei Corp. (b) | 53,135 | 1,720,511 | |
Payoneer Global, Inc. (a) | 222,278 | 1,231,420 | |
Shift4 Payments, Inc. (a) | 24,402 | 1,789,887 | |
StoneCo Ltd. Class A (a) | 130,681 | 1,566,865 | |
Visa, Inc. Class A | 6,273 | 1,646,474 | |
WEX, Inc. (a) | 9,489 | 1,680,881 | |
Worldline SA (a)(b) | 109,034 | 1,182,595 | |
28,552,612 | |||
TOTAL FINANCIALS | 42,841,975 | ||
INFORMATION TECHNOLOGY - 58.6% | |||
IT Services - 5.3% | |||
Core Scientific, Inc. | 395,628 | 3,679,340 | |
Shopify, Inc. Class A (a) | 28,208 | 1,863,138 | |
5,542,478 | |||
Software - 51.1% | |||
Bit Digital, Inc. (a) | 905,812 | 2,880,482 | |
Bitdeer Technologies Group Class A, (a) | 282,088 | 2,894,223 | |
Bitfarms Ltd. (a) | 1,439,197 | 3,698,736 | |
Cipher Mining, Inc. (a) | 726,816 | 3,016,286 | |
Cleanspark, Inc. (a) | 444,438 | 7,088,786 | |
HIVE Digital Technologies Ltd. (a) | 663,005 | 2,042,055 | |
Hut 8 Mining Corp. (a) | 333,471 | 4,998,730 | |
Iris Energy Ltd. (a) | 431,308 | 4,869,467 | |
Marathon Digital Holdings, Inc. (a) | 480,425 | 9,536,436 | |
Northern Data AG (a) | 44,033 | 1,123,178 | |
Riot Platforms, Inc. (a) | 591,879 | 5,409,774 | |
TeraWulf, Inc. (a) | 1,221,942 | 5,437,642 | |
52,995,795 | |||
Technology Hardware, Storage & Peripherals - 2.2% | |||
Canaan, Inc. ADR (a) | 2,319,863 | 2,319,399 | |
TOTAL INFORMATION TECHNOLOGY | 60,857,672 | ||
TOTAL COMMON STOCKS (Cost $77,329,199) | 103,699,647 | ||
Money Market Funds - 0.0% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (c) (Cost $40,485) | 40,477 | 40,485 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $77,369,684) | 103,740,132 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 52,388 |
NET ASSETS - 100.0% | 103,792,520 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini NASDAQ 100 Index Contracts (United States) | 2 | Sep 2024 | 79,709 | 80 | 80 |
The notional amount of futures purchased as a percentage of Net Assets is 0.1% |
(a) | Non-income producing |
(b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $5,587,981 or 5.4% of net assets. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | - | 1,149,419 | 1,108,937 | 2,320 | 3 | - | 40,485 | 0.0% |
Total | - | 1,149,419 | 1,108,937 | 2,320 | 3 | - | 40,485 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Financials | 42,841,975 | 42,841,975 | - | - |
Information Technology | 60,857,672 | 60,857,672 | - | - |
Money Market Funds | 40,485 | 40,485 | - | - |
Total Investments in Securities: | 103,740,132 | 103,740,132 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 80 | 80 | - | - |
Total Assets | 80 | 80 | - | - |
Total Derivative Instruments: | 80 | 80 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 80 | 0 |
Total Equity Risk | 80 | 0 |
Total Value of Derivatives | 80 | 0 |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $77,329,199) | $ | 103,699,647 | ||
Fidelity Central Funds (cost $40,485) | 40,485 | |||
Total Investment in Securities (cost $77,369,684) | $ | 103,740,132 | ||
Segregated cash with brokers for derivative instruments | 21,240 | |||
Cash | 5,743 | |||
Foreign currency held at value (cost $104,116) | 104,175 | |||
Receivable for investments sold | 74 | |||
Dividends receivable | 5,375 | |||
Distributions receivable from Fidelity Central Funds | 169 | |||
Receivable from investment adviser for expense reductions | 10,264 | |||
Total assets | 103,887,172 | |||
Liabilities | ||||
Payable for investments purchased | $ | 42,207 | ||
Accrued management fee | 33,586 | |||
Payable for daily variation margin on futures contracts | 449 | |||
Proxy fee payable | 17,910 | |||
Other payables and accrued expenses | 500 | |||
Total liabilities | 94,652 | |||
Net Assets | $ | 103,792,520 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 80,863,218 | ||
Total accumulated earnings (loss) | 22,929,302 | |||
Net Assets | $ | 103,792,520 | ||
Net Asset Value, offering price and redemption price per share ($103,792,520 ÷ 3,550,000 shares) | $ | 29.24 |
Statement of Operations | ||||
Year ended June 30, 2024 | ||||
Investment Income | ||||
Dividends | $ | 157,088 | ||
Interest | 375 | |||
Income from Fidelity Central Funds | 2,320 | |||
Income before foreign taxes withheld | $ | 159,783 | ||
Less foreign taxes withheld | (14,258) | |||
Total income | 145,525 | |||
Expenses | ||||
Management fee | $ | 267,622 | ||
Independent trustees' fees and expenses | 290 | |||
Proxy | 17,910 | |||
Total expenses before reductions | 285,822 | |||
Expense reductions | (12,404) | |||
Total expenses after reductions | 273,418 | |||
Net Investment income (loss) | (127,893) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 1,172,182 | |||
Redemptions in-kind | 7,827,094 | |||
Fidelity Central Funds | 3 | |||
Foreign currency transactions | (6,056) | |||
Futures contracts | 6,298 | |||
Total net realized gain (loss) | 8,999,521 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 17,470,018 | |||
Assets and liabilities in foreign currencies | 18 | |||
Futures contracts | 80 | |||
Total change in net unrealized appreciation (depreciation) | 17,470,116 | |||
Net gain (loss) | 26,469,637 | |||
Net increase (decrease) in net assets resulting from operations | $ | 26,341,744 |
Statement of Changes in Net Assets | ||||
Year ended June 30, 2024 | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (127,893) | $ | (43,544) |
Net realized gain (loss) | 8,999,521 | (3,456,071) | ||
Change in net unrealized appreciation (depreciation) | 17,470,116 | 13,810,541 | ||
Net increase (decrease) in net assets resulting from operations | 26,341,744 | 10,310,926 | ||
Distributions to shareholders | (135,150) | - | ||
Share transactions | ||||
Proceeds from sales of shares | 51,747,447 | 14,414,125 | ||
Cost of shares redeemed | (10,623,302) | (1,267,834) | ||
Net increase (decrease) in net assets resulting from share transactions | 41,124,145 | 13,146,291 | ||
Total increase (decrease) in net assets | 67,330,739 | 23,457,217 | ||
Net Assets | ||||
Beginning of period | 36,461,781 | 13,004,564 | ||
End of period | $ | 103,792,520 | $ | 36,461,781 |
Other Information | ||||
Shares | ||||
Sold | 2,050,000 | 950,000 | ||
Redeemed | (400,000) | (100,000) | ||
Net increase (decrease) | 1,650,000 | 850,000 | ||
Fidelity® Crypto Industry and Digital Payments ETF |
Years ended June 30, | 2024 | 2023 | 2022 A | |||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 19.19 | $ | 12.39 | $ | 25.76 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | (.04) | (.03) | (.01) | |||
Net realized and unrealized gain (loss) | 10.14 | 6.83 | (13.36) | |||
Total from investment operations | 10.10 | 6.80 | (13.37) | |||
Distributions from net investment income | (.05) | - | - | |||
Total distributions | (.05) | - | - | |||
Net asset value, end of period | $ | 29.24 | $ | 19.19 | $ | 12.39 |
Total Return D,E,F | 52.67 % | 54.94% | (51.92)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | .42% | .39% | .39% I | |||
Expenses net of fee waivers, if any | .40 % | .39% | .39% I | |||
Expenses net of all reductions | .40% | .39% | .39% | |||
Net investment income (loss) | (.19)% | (.19)% | (.29)% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 103,793 | $ | 36,462 | $ | 13,005 |
Portfolio turnover rate J,K | 53 % | 55% | 28% L |
Common Stocks - 99.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 1.5% | |||
Interactive Media & Services - 1.5% | |||
Infocom Corp. | 3,300 | 124,319 | |
CONSUMER STAPLES - 6.3% | |||
Consumer Staples Distribution & Retail - 6.3% | |||
Alibaba Health Information Technology Ltd. (a) | 376,000 | 150,739 | |
DocMorris AG (a) | 1,724 | 102,642 | |
Ping An Healthcare and Technology Co. Ltd. (a)(b) | 78,400 | 114,878 | |
Redcare Pharmacy NV (a)(b) | 1,243 | 151,869 | |
520,128 | |||
HEALTH CARE - 87.4% | |||
Health Care Equipment & Supplies - 49.6% | |||
Axonics, Inc. (a) | 2,751 | 184,950 | |
Cochlear Ltd. | 1,369 | 303,680 | |
Demant A/S (a) | 4,261 | 184,569 | |
DexCom, Inc. (a) | 3,241 | 367,465 | |
Fisher & Paykel Healthcare Corp. | 14,279 | 261,723 | |
Inspire Medical Systems, Inc. (a) | 1,337 | 178,931 | |
Insulet Corp. (a) | 1,541 | 310,974 | |
Intuitive Surgical, Inc. (a) | 916 | 407,480 | |
iRhythm Technologies, Inc. (a) | 1,908 | 205,377 | |
Koninklijke Philips Electronics NV | 13,429 | 339,520 | |
Masimo Corp. (a) | 1,744 | 219,639 | |
Nevro Corp. (a) | 9,216 | 77,599 | |
Nihon Kohden Corp. | 11,000 | 158,921 | |
Omnicell, Inc. (a) | 4,490 | 121,544 | |
ResMed, Inc. | 1,814 | 347,236 | |
Sonova Holding AG | 944 | 291,625 | |
Tandem Diabetes Care, Inc. (a) | 3,548 | 142,949 | |
4,104,182 | |||
Health Care Providers & Services - 13.4% | |||
Accolade, Inc. (a) | 14,125 | 50,568 | |
Astrana Health, Inc. (a) | 3,552 | 144,069 | |
Cigna Group | 529 | 174,872 | |
Corvel Corp. (a) | 664 | 168,835 | |
Hims & Hers Health, Inc. (a) | 8,316 | 167,900 | |
Premier, Inc. Class A | 8,487 | 158,452 | |
R1 RCM, Inc. (a) | 13,103 | 164,574 | |
Talkspace, Inc. Class A (a) | 32,863 | 75,585 | |
1,104,855 | |||
Health Care Technology - 22.3% | |||
CompuGroup Medical AG | 3,803 | 97,006 | |
Definitive Healthcare Corp. (a) | 14,647 | 79,973 | |
Doximity, Inc. (a) | 6,517 | 182,280 | |
Evolent Health, Inc. Class A (a) | 7,387 | 141,239 | |
GoodRx Holdings, Inc. (a) | 12,684 | 98,935 | |
Health Catalyst, Inc. (a) | 13,347 | 85,287 | |
JMDC, Inc. | 4,900 | 101,162 | |
Phreesia, Inc. (a) | 6,334 | 134,281 | |
Pro Medicus Ltd. | 2,444 | 233,833 | |
Sectra AB (B Shares) | 8,059 | 184,311 | |
Teladoc Health, Inc. (a) | 13,656 | 133,556 | |
Veeva Systems, Inc. Class A (a) | 2,013 | 368,399 | |
1,840,262 | |||
Life Sciences Tools & Services - 2.1% | |||
IQVIA Holdings, Inc. (a) | 808 | 170,844 | |
TOTAL HEALTH CARE | 7,220,143 | ||
INDUSTRIALS - 2.5% | |||
Professional Services - 2.5% | |||
Maximus, Inc. | 2,467 | 211,422 | |
INFORMATION TECHNOLOGY - 2.2% | |||
IT Services - 2.2% | |||
Cognizant Technology Solutions Corp. Class A | 2,698 | 183,464 | |
TOTAL COMMON STOCKS (Cost $9,359,943) | 8,259,476 | ||
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $9,359,943) | 8,259,476 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 4,552 |
NET ASSETS - 100.0% | 8,264,028 |
(a) | Non-income producing |
(b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $266,747 or 3.2% of net assets. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | - | 171,342 | 171,342 | 26 | - | - | - | 0.0% |
Total | - | 171,342 | 171,342 | 26 | - | - | - | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 124,319 | 124,319 | - | - |
Consumer Staples | 520,128 | 520,128 | - | - |
Health Care | 7,220,143 | 7,220,143 | - | - |
Industrials | 211,422 | 211,422 | - | - |
Information Technology | 183,464 | 183,464 | - | - |
Total Investments in Securities: | 8,259,476 | 8,259,476 | - | - |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $9,359,943): | $ | 8,259,476 | ||
Cash | 748 | |||
Foreign currency held at value (cost $1,664) | 1,662 | |||
Dividends receivable | 5,837 | |||
Receivable from investment adviser for expense reductions | 1,761 | |||
Total assets | 8,269,484 | |||
Liabilities | ||||
Accrued management fee | $ | 2,759 | ||
Proxy fee payable | 2,697 | |||
Total liabilities | 5,456 | |||
Net Assets | $ | 8,264,028 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 12,010,760 | ||
Total accumulated earnings (loss) | (3,746,732) | |||
Net Assets | $ | 8,264,028 | ||
Net Asset Value, offering price and redemption price per share ($8,264,028 ÷ 450,000 shares) | $ | 18.36 |
Statement of Operations | ||||
Year ended June 30, 2024 | ||||
Investment Income | ||||
Dividends | $ | 41,365 | ||
Income from Fidelity Central Funds | 26 | |||
Income before foreign taxes withheld | $ | 41,391 | ||
Less foreign taxes withheld | (2,251) | |||
Total income | 39,140 | |||
Expenses | ||||
Management fee | $ | 35,407 | ||
Independent trustees' fees and expenses | 46 | |||
Proxy | 2,697 | |||
Total expenses before reductions | 38,150 | |||
Expense reductions | (1,861) | |||
Total expenses after reductions | 36,289 | |||
Net Investment income (loss) | 2,851 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Redemptions in-kind | 228,371 | |||
Unaffiliated issuers | (1,166,967) | |||
Foreign currency transactions | (159) | |||
Total net realized gain (loss) | (938,755) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 339,758 | |||
Assets and liabilities in foreign currencies | (7) | |||
Total change in net unrealized appreciation (depreciation) | 339,751 | |||
Net gain (loss) | (599,004) | |||
Net increase (decrease) in net assets resulting from operations | $ | (596,153) |
Statement of Changes in Net Assets | ||||
Year ended June 30, 2024 | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 2,851 | $ | 16,864 |
Net realized gain (loss) | (938,755) | (1,145,613) | ||
Change in net unrealized appreciation (depreciation) | 339,751 | 1,683,713 | ||
Net increase (decrease) in net assets resulting from operations | (596,153) | 554,964 | ||
Distributions to shareholders | (4,950) | (15,500) | ||
Share transactions | ||||
Cost of shares redeemed | (963,021) | - | ||
Net increase (decrease) in net assets resulting from share transactions | (963,021) | - | ||
Total increase (decrease) in net assets | (1,564,124) | 539,464 | ||
Net Assets | ||||
Beginning of period | 9,828,152 | 9,288,688 | ||
End of period | $ | 8,264,028 | $ | 9,828,152 |
Other Information | ||||
Shares | ||||
Redeemed | (50,000) | - | ||
Net increase (decrease) | (50,000) | - | ||
Fidelity® Digital Health ETF |
Years ended June 30, | 2024 | 2023 | 2022 A | |||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 19.66 | $ | 18.58 | $ | 25.10 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .01 | .03 D | (.01) | |||
Net realized and unrealized gain (loss) | (1.30) | 1.08 | (6.51) | |||
Total from investment operations | (1.29) | 1.11 | (6.52) | |||
Distributions from net investment income | (.01) | (.03) | - | |||
Total distributions | (.01) | (.03) | - | |||
Net asset value, end of period | $ | 18.36 | $ | 19.66 | $ | 18.58 |
Total Return E,F,G | (6.52) % | 5.98% | (25.99)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | .42% | .39% | .39% J | |||
Expenses net of fee waivers, if any | .40 % | .39% | .39% J | |||
Expenses net of all reductions | .40% | .39% | .39% J | |||
Net investment income (loss) | .03% | .18% D | (.05)% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 8,264 | $ | 9,828 | $ | 9,289 |
Portfolio turnover rate K | 42 % L | 36% | 48% L,M |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
CONSUMER DISCRETIONARY - 39.6% | |||
Automobile Components - 13.0% | |||
Adient PLC (a) | 18,938 | 467,958 | |
Aptiv PLC (a) | 13,503 | 950,881 | |
Forvia SE | 35,003 | 414,722 | |
Lear Corp. | 6,030 | 688,686 | |
Luminar Technologies, Inc. Class A (a) | 188,847 | 281,382 | |
Mobileye Global, Inc. Class A (a) | 15,854 | 445,260 | |
Valeo SA | 43,813 | 466,655 | |
Visteon Corp. (a) | 5,188 | 553,560 | |
4,269,104 | |||
Automobiles - 22.0% | |||
BYD Co. Ltd. (H Shares) | 39,500 | 1,173,758 | |
Li Auto, Inc. Class A (a) | 87,300 | 786,073 | |
Lucid Group, Inc. Class A (a) | 188,674 | 492,439 | |
NIO, Inc. sponsored ADR (a) | 143,365 | 596,398 | |
Rivian Automotive, Inc. (a) | 67,104 | 900,536 | |
Tesla, Inc. (a) | 8,996 | 1,780,130 | |
XPeng, Inc. Class A (a) | 160,100 | 605,958 | |
Yadea Group Holdings Ltd. (b) | 296,000 | 374,199 | |
Zhejiang Leapmotor Technology Co. Ltd. (H Shares) (a)(b) | 144,500 | 496,017 | |
7,205,508 | |||
Household Durables - 4.6% | |||
Garmin Ltd. | 6,934 | 1,129,687 | |
JVCKENWOOD Holdings, Inc. | 67,000 | 388,188 | |
1,517,875 | |||
TOTAL CONSUMER DISCRETIONARY | 12,992,487 | ||
INDUSTRIALS - 18.7% | |||
Electrical Equipment - 8.7% | |||
Bloom Energy Corp. Class A (a) | 36,879 | 451,399 | |
ChargePoint Holdings, Inc. Class A (a) | 190,298 | 287,350 | |
Doosan Fuel Cell Co. Ltd. (a) | 20,452 | 314,246 | |
LG Energy Solution (a) | 3,287 | 779,663 | |
Plug Power, Inc. (a) | 152,155 | 354,521 | |
Sensata Technologies PLC | 17,687 | 661,317 | |
2,848,496 | |||
Ground Transportation - 7.2% | |||
Lyft, Inc. (a) | 43,794 | 617,495 | |
Uber Technologies, Inc. (a) | 23,921 | 1,738,578 | |
2,356,073 | |||
Machinery - 2.8% | |||
Blue Bird Corp. (a) | 6,724 | 362,087 | |
NFI Group, Inc. (a) | 32,873 | 380,537 | |
Nikola Corp. (a) | 20,022 | 163,980 | |
906,604 | |||
TOTAL INDUSTRIALS | 6,111,173 | ||
INFORMATION TECHNOLOGY - 33.5% | |||
Electronic Equipment, Instruments & Components - 2.6% | |||
Samsung SDI Co. Ltd. | 3,351 | 861,790 | |
Semiconductors & Semiconductor Equipment - 30.9% | |||
Allegro MicroSystems LLC (a) | 14,206 | 401,177 | |
ams-OSRAM AG (a) | 237,041 | 328,286 | |
Analog Devices, Inc. | 6,789 | 1,549,657 | |
Diodes, Inc. (a) | 6,600 | 474,738 | |
indie Semiconductor, Inc. (a) | 42,808 | 264,125 | |
Infineon Technologies AG | 30,337 | 1,115,382 | |
Lattice Semiconductor Corp. (a) | 10,574 | 613,186 | |
Melexis NV | 4,432 | 381,900 | |
NXP Semiconductors NV | 4,917 | 1,323,116 | |
ON Semiconductor Corp. (a) | 13,921 | 954,285 | |
SiTime Corp. (a) | 3,415 | 424,758 | |
Skyworks Solutions, Inc. | 8,707 | 927,992 | |
STMicroelectronics NV (Italy) | 22,925 | 906,014 | |
Synaptics, Inc. (a) | 5,322 | 469,400 | |
10,134,016 | |||
TOTAL INFORMATION TECHNOLOGY | 10,995,806 | ||
MATERIALS - 8.0% | |||
Chemicals - 8.0% | |||
Albemarle Corp. | 7,883 | 752,984 | |
Arcadium Lithium PLC | 148,113 | 497,660 | |
Ganfeng Lithium Group Co. Ltd. (H Shares) (b) | 147,280 | 287,112 | |
LG Chemical Ltd. | 3,338 | 837,834 | |
Tianqi Lithium Corp. (H Shares) | 81,400 | 233,543 | |
2,609,133 | |||
TOTAL COMMON STOCKS (Cost $44,918,091) | 32,708,599 | ||
Money Market Funds - 0.0% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (c) (Cost $8,184) | 8,182 | 8,184 | |
TOTAL INVESTMENT IN SECURITIES - 99.8% (Cost $44,926,275) | 32,716,783 |
NET OTHER ASSETS (LIABILITIES) - 0.2% | 70,385 |
NET ASSETS - 100.0% | 32,787,168 |
(a) | Non-income producing |
(b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,157,328 or 3.5% of net assets. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | - | 1,066,824 | 1,058,640 | 174 | - | - | 8,184 | 0.0% |
Total | - | 1,066,824 | 1,058,640 | 174 | - | - | 8,184 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Consumer Discretionary | 12,992,487 | 12,992,487 | - | - |
Industrials | 6,111,173 | 6,111,173 | - | - |
Information Technology | 10,995,806 | 10,995,806 | - | - |
Materials | 2,609,133 | 2,609,133 | - | - |
Money Market Funds | 8,184 | 8,184 | - | - |
Total Investments in Securities: | 32,716,783 | 32,716,783 | - | - |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $44,918,091) | $ | 32,708,599 | ||
Fidelity Central Funds (cost $8,184) | 8,184 | |||
Total Investment in Securities (cost $44,926,275) | $ | 32,716,783 | ||
Cash | 11,450 | |||
Foreign currency held at value (cost $4,051) | 4,050 | |||
Dividends receivable | 85,244 | |||
Distributions receivable from Fidelity Central Funds | 102 | |||
Receivable from investment adviser for expense reductions | 6,803 | |||
Total assets | 32,824,432 | |||
Liabilities | ||||
Payable for investments purchased | $ | 15,223 | ||
Accrued management fee | 10,998 | |||
Proxy fee payable | 11,043 | |||
Total liabilities | 37,264 | |||
Net Assets | $ | 32,787,168 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 66,044,260 | ||
Total accumulated earnings (loss) | (33,257,092) | |||
Net Assets | $ | 32,787,168 | ||
Net Asset Value, offering price and redemption price per share ($32,787,168 ÷ 2,450,000 shares) | $ | 13.38 |
Statement of Operations | ||||
Year ended June 30, 2024 | ||||
Investment Income | ||||
Dividends | $ | 385,465 | ||
Income from Fidelity Central Funds | 174 | |||
Income before foreign taxes withheld | $ | 385,639 | ||
Less foreign taxes withheld | (21,261) | |||
Total income | 364,378 | |||
Expenses | ||||
Management fee | $ | 169,524 | ||
Independent trustees' fees and expenses | 233 | |||
Proxy | 11,043 | |||
Total expenses before reductions | 180,800 | |||
Expense reductions | (7,132) | |||
Total expenses after reductions | 173,668 | |||
Net Investment income (loss) | 190,710 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (8,104,859) | |||
Redemptions in-kind | 465,380 | |||
Foreign currency transactions | (5,974) | |||
Total net realized gain (loss) | (7,645,453) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (8,068,190) | |||
Assets and liabilities in foreign currencies | (177) | |||
Total change in net unrealized appreciation (depreciation) | (8,068,367) | |||
Net gain (loss) | (15,713,820) | |||
Net increase (decrease) in net assets resulting from operations | $ | (15,523,110) |
Statement of Changes in Net Assets | ||||
Year ended June 30, 2024 | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 190,710 | $ | 117,725 |
Net realized gain (loss) | (7,645,453) | (8,677,880) | ||
Change in net unrealized appreciation (depreciation) | (8,068,367) | 12,015,741 | ||
Net increase (decrease) in net assets resulting from operations | (15,523,110) | 3,455,586 | ||
Distributions to shareholders | (178,200) | (119,850) | ||
Share transactions | ||||
Proceeds from sales of shares | 1,007,818 | 12,741,845 | ||
Cost of shares redeemed | (6,914,724) | - | ||
Net increase (decrease) in net assets resulting from share transactions | (5,906,906) | 12,741,845 | ||
Total increase (decrease) in net assets | (21,608,216) | 16,077,581 | ||
Net Assets | ||||
Beginning of period | 54,395,384 | 38,317,803 | ||
End of period | $ | 32,787,168 | $ | 54,395,384 |
Other Information | ||||
Shares | ||||
Sold | 50,000 | 700,000 | ||
Redeemed | (450,000) | - | ||
Net increase (decrease) | (400,000) | 700,000 | ||
Fidelity® Electric Vehicles and Future Transportation ETF |
Years ended June 30, | 2024 | 2023 | 2022 A | |||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 19.09 | $ | 17.82 | $ | 25.20 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .07 | .05 | .04 | |||
Net realized and unrealized gain (loss) | (5.71) | 1.27 | (7.39) | |||
Total from investment operations | (5.64) | 1.32 | (7.35) | |||
Distributions from net investment income | (.07) | (.05) | (.03) | |||
Total distributions | (.07) | (.05) | (.03) | |||
Net asset value, end of period | $ | 13.38 | $ | 19.09 | $ | 17.82 |
Total Return D,E,F | (29.55) % | 7.36% | (29.15)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | .42% | .39% | .39% I | |||
Expenses net of fee waivers, if any | .40 % | .39% | .39% I | |||
Expenses net of all reductions | .40% | .39% | .39% I | |||
Net investment income (loss) | .44% | .26% | .25% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 32,787 | $ | 54,395 | $ | 38,318 |
Portfolio turnover rate J,K | 54 % | 62% | 31% L |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 37.0% | |||
Entertainment - 15.2% | |||
Electronic Arts, Inc. | 5,375 | 748,899 | |
Embracer Group AB (a) | 125,074 | 275,063 | |
Kakao Games Corp. (a) | 12,888 | 191,939 | |
KRAFTON, Inc. (a) | 2,318 | 474,041 | |
NCSOFT Corp. | 2,120 | 277,071 | |
NetEase, Inc. | 39,900 | 761,981 | |
Nexon Co. Ltd. | 26,200 | 484,552 | |
Playtika Holding Corp. | 21,939 | 172,660 | |
Roblox Corp. (a) | 16,793 | 624,868 | |
Take-Two Interactive Software, Inc. (a) | 4,096 | 636,887 | |
Ubisoft Entertainment SA (a) | 12,441 | 272,540 | |
WeMade Entertainment Co. Ltd. (a) | 6,074 | 188,199 | |
5,108,700 | |||
Interactive Media & Services - 21.8% | |||
Alphabet, Inc. Class A | 8,390 | 1,528,239 | |
Bumble, Inc. (a) | 20,705 | 217,610 | |
Hello Group, Inc. ADR | 37,607 | 230,155 | |
Meitu, Inc. (b) | 619,500 | 209,478 | |
Meta Platforms, Inc. Class A | 2,973 | 1,499,046 | |
NAVER Corp. | 4,778 | 579,330 | |
Pinterest, Inc. Class A (a) | 16,209 | 714,331 | |
Snap, Inc. Class A (a) | 37,878 | 629,154 | |
Tencent Holdings Ltd. | 31,500 | 1,502,498 | |
Weibo Corp. sponsored ADR | 24,044 | 184,658 | |
7,294,499 | |||
TOTAL COMMUNICATION SERVICES | 12,403,199 | ||
INFORMATION TECHNOLOGY - 56.8% | |||
Electronic Equipment, Instruments & Components - 1.1% | |||
Sunny Optical Technology Group Co. Ltd. | 62,200 | 384,398 | |
IT Services - 3.7% | |||
Endava PLC ADR (a) | 8,959 | 261,961 | |
Fastly, Inc. Class A (a) | 28,882 | 212,860 | |
GDS Holdings Ltd. Class A (a) | 219,300 | 262,068 | |
Globant SA (a) | 2,792 | 497,702 | |
1,234,591 | |||
Semiconductors & Semiconductor Equipment - 20.2% | |||
Advanced Micro Devices, Inc. (a) | 8,925 | 1,447,724 | |
Ambarella, Inc. (a) | 5,084 | 274,282 | |
Cirrus Logic, Inc. (a) | 3,631 | 463,533 | |
Himax Technologies, Inc. sponsored ADR | 32,552 | 258,463 | |
Intel Corp. | 37,849 | 1,172,184 | |
NVIDIA Corp. | 12,019 | 1,484,827 | |
Qualcomm, Inc. | 6,709 | 1,336,299 | |
Synaptics, Inc. (a) | 3,742 | 330,044 | |
6,767,356 | |||
Software - 19.5% | |||
Adobe, Inc. (a) | 2,979 | 1,654,950 | |
Autodesk, Inc. (a) | 3,816 | 944,269 | |
Bentley Systems, Inc. Class B | 10,291 | 507,964 | |
Dassault Systemes SA | 16,968 | 641,947 | |
Matterport, Inc. Class A (a) | 53,909 | 240,973 | |
Microsoft Corp. | 3,471 | 1,551,363 | |
PTC, Inc. (a) | 3,659 | 664,731 | |
Unity Software, Inc. (a) | 21,074 | 342,663 | |
6,548,860 | |||
Technology Hardware, Storage & Peripherals - 12.3% | |||
Apple, Inc. | 7,513 | 1,582,388 | |
Samsung Electronics Co. Ltd. | 26,975 | 1,597,139 | |
Super Micro Computer, Inc. (a) | 983 | 805,421 | |
Turtle Beach Corp. (a) | 9,621 | 137,965 | |
4,122,913 | |||
TOTAL INFORMATION TECHNOLOGY | 19,058,118 | ||
REAL ESTATE - 6.0% | |||
Equity Real Estate Investment Trusts (REITs) - 5.4% | |||
Digital Realty Trust, Inc. | 5,653 | 859,539 | |
Equinix, Inc. | 1,256 | 950,290 | |
1,809,829 | |||
Real Estate Management & Development - 0.6% | |||
eXp World Holdings, Inc. | 19,753 | 222,913 | |
TOTAL REAL ESTATE | 2,032,742 | ||
TOTAL COMMON STOCKS (Cost $30,729,422) | 33,494,059 | ||
TOTAL INVESTMENT IN SECURITIES - 99.8% (Cost $30,729,422) | 33,494,059 |
NET OTHER ASSETS (LIABILITIES) - 0.2% | 65,541 |
NET ASSETS - 100.0% | 33,559,600 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini NASDAQ 100 Index Contracts (United States) | 1 | Sep 2024 | 39,855 | 338 | 338 |
The notional amount of futures purchased as a percentage of Net Assets is 0.1% |
(a) | Non-income producing |
(b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $209,478 or 0.6% of net assets. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 278,050 | 1,696,145 | 1,974,196 | 3,196 | 1 | - | - | 0.0% |
Total | 278,050 | 1,696,145 | 1,974,196 | 3,196 | 1 | - | - | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 12,403,199 | 12,403,199 | - | - |
Information Technology | 19,058,118 | 19,058,118 | - | - |
Real Estate | 2,032,742 | 2,032,742 | - | - |
Total Investments in Securities: | 33,494,059 | 33,494,059 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 338 | 338 | - | - |
Total Assets | 338 | 338 | - | - |
Total Derivative Instruments: | 338 | 338 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 338 | 0 |
Total Equity Risk | 338 | 0 |
Total Value of Derivatives | 338 | 0 |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $30,729,422): | $ | 33,494,059 | ||
Segregated cash with brokers for derivative instruments | 7,080 | |||
Cash | 39,077 | |||
Foreign currency held at value (cost $12,869) | 12,918 | |||
Dividends receivable | 20,098 | |||
Distributions receivable from Fidelity Central Funds | 339 | |||
Receivable from investment adviser for expense reductions | 4,418 | |||
Total assets | 33,577,989 | |||
Liabilities | ||||
Accrued management fee | $ | 10,807 | ||
Payable for daily variation margin on futures contracts | 225 | |||
Proxy fee payable | 7,079 | |||
Other payables and accrued expenses | 278 | |||
Total liabilities | 18,389 | |||
Net Assets | $ | 33,559,600 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 32,637,544 | ||
Total accumulated earnings (loss) | 922,056 | |||
Net Assets | $ | 33,559,600 | ||
Net Asset Value, offering price and redemption price per share ($33,559,600 ÷ 1,100,000 shares) | $ | 30.51 |
Statement of Operations | ||||
Year ended June 30, 2024 | ||||
Investment Income | ||||
Dividends | $ | 176,486 | ||
Interest | 225 | |||
Income from Fidelity Central Funds | 3,196 | |||
Total income | 179,907 | |||
Expenses | ||||
Management fee | $ | 93,953 | ||
Independent trustees' fees and expenses | 107 | |||
Proxy | 7,079 | |||
Total expenses before reductions | 101,139 | |||
Expense reductions | (5,114) | |||
Total expenses after reductions | 96,025 | |||
Net Investment income (loss) | 83,882 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (1,267,761) | |||
Redemptions in-kind | 3,556,311 | |||
Fidelity Central Funds | 1 | |||
Foreign currency transactions | (5,088) | |||
Futures contracts | 25,165 | |||
Total net realized gain (loss) | 2,308,628 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 2,049,958 | |||
Assets and liabilities in foreign currencies | 116 | |||
Futures contracts | (973) | |||
Total change in net unrealized appreciation (depreciation) | 2,049,101 | |||
Net gain (loss) | 4,357,729 | |||
Net increase (decrease) in net assets resulting from operations | $ | 4,441,611 |
Statement of Changes in Net Assets | ||||
Year ended June 30, 2024 | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 83,882 | $ | 64,134 |
Net realized gain (loss) | 2,308,628 | 558,090 | ||
Change in net unrealized appreciation (depreciation) | 2,049,101 | 2,003,697 | ||
Net increase (decrease) in net assets resulting from operations | 4,441,611 | 2,625,921 | ||
Distributions to shareholders | (100,500) | (70,500) | ||
Share transactions | ||||
Proceeds from sales of shares | 20,617,140 | 6,111,398 | ||
Cost of shares redeemed | (8,087,398) | (2,636,047) | ||
Net increase (decrease) in net assets resulting from share transactions | 12,529,742 | 3,475,351 | ||
Total increase (decrease) in net assets | 16,870,853 | 6,030,772 | ||
Net Assets | ||||
Beginning of period | 16,688,747 | 10,657,975 | ||
End of period | $ | 33,559,600 | $ | 16,688,747 |
Other Information | ||||
Shares | ||||
Sold | 750,000 | 250,000 | ||
Redeemed | (300,000) | (100,000) | ||
Net increase (decrease) | 450,000 | 150,000 | ||
Fidelity® Metaverse ETF |
Years ended June 30, | 2024 | 2023 | 2022 A | |||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 25.67 | $ | 21.32 | $ | 25.28 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .10 | .11 D | - E | |||
Net realized and unrealized gain (loss) | 4.84 | 4.36 | (3.96) | |||
Total from investment operations | 4.94 | 4.47 | (3.96) | |||
Distributions from net investment income | (.10) | (.12) | - | |||
Total distributions | (.10) | (.12) | - | |||
Net asset value, end of period | $ | 30.51 | $ | 25.67 | $ | 21.32 |
Total Return F,G,H | 19.25 % | 21.06% | (15.67)% | |||
Ratios to Average Net Assets C,I,J | ||||||
Expenses before reductions | .42% | .39% | .39% K | |||
Expenses net of fee waivers, if any | .40 % | .39% | .39% K | |||
Expenses net of all reductions | .40% | .39% | .39% K | |||
Net investment income (loss) | .35% | .49% D | .01% K | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 33,560 | $ | 16,689 | $ | 10,658 |
Portfolio turnover rate L,M | 52 % | 47% | 8% N |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized depreciation ($) | Net unrealized appreciation (depreciation)($) | |
Fidelity Clean Energy ETF | 35,551,992 | 1,452,123 | (11,702,399) | (10,250,276) |
Fidelity Cloud Computing ETF | 73,599,354 | 10,514,566 | (7,030,515) | 3,484,051 |
Fidelity Crypto Industry and Digital Payments ETF | 77,789,930 | 33,673,398 | (7,723,196) | 25,950,202 |
Fidelity Digital Health ETF | 9,399,152 | 1,196,181 | (2,335,857) | (1,139,676) |
Fidelity Electric Vehicles and Future Transportation ETF | 45,069,558 | 2,047,674 | (14,400,449) | (12,352,775) |
Fidelity Metaverse ETF | 30,934,468 | 5,269,149 | (2,709,558) | 2,559,591 |
Undistributed ordinary income ($) | Capital loss carryforward ($) | Net unrealized appreciation (depreciation) on securities and other investments ($) | |
Fidelity Clean Energy ETF | - | (8,979,616) | (10,246,496) |
Fidelity Cloud Computing ETF | - | (5,600,648) | 3,486,622 |
Fidelity Crypto Industry and Digital Payments ETF | 1,430,284 | (4,451,188) | 25,950,207 |
Fidelity Digital Health ETF | - | (2,607,316) | (1,139,416) |
Fidelity Electric Vehicles and Future Transportation ETF | - | (20,900,598) | (12,351,074) |
Fidelity Metaverse ETF | - | (1,634,643) | 2,559,728 |
Short-term ($) | Long-term ($) | Total capital loss carryforward ($) | |
Fidelity Clean Energy ETF | (2,939,218) | (6,040,398) | (8,979,616) |
Fidelity Cloud Computing ETF | (1,564,044) | (4,036,604) | (5,600,648) |
Fidelity Crypto Industry and Digital Payments ETF | (3,574,238) | (876,950) | (4,451,188) |
Fidelity Digital Health ETF | (613,214) | (1,994,102) | (2,607,316) |
Fidelity Electric Vehicles and Future Transportation ETF | (9,148,744) | (11,751,854) | (20,900,598) |
Fidelity Metaverse ETF | (815,493) | (819,150) | (1,634,643) |
Ordinary losses ($) | |
Fidelity Clean Energy ETF | (585) |
Fidelity Cloud Computing ETF | (78) |
Fidelity Electric Vehicles and Future Transportation ETF | (5,419) |
Fidelity Metaverse ETF | (3,029) |
June 30, 2024 | |
Ordinary Income ($) | |
Fidelity Clean Energy ETF | 378,500 |
Fidelity Cloud Computing ETF | 106,250 |
Fidelity Crypto Industry and Digital Payments ETF | 135,150 |
Fidelity Digital Health ETF | 4,950 |
Fidelity Electric Vehicles and Future Transportation ETF | 178,200 |
Fidelity Metaverse ETF | 100,500 |
June 30, 2023 | |||
Ordinary Income ($) | Tax Return of Capital ($) | Total ($) | |
Fidelity Clean Energy ETF | 306,800 | - | 306,800 |
Fidelity Cloud Computing ETF | 48,880 | 14,820 | 63,700 |
Fidelity Crypto Industry and Digital Payments ETF | - | - | - |
Fidelity Digital Health ETF | 15,500 | - | 15,500 |
Fidelity Electric Vehicles and Future Transportation ETF | 119,850 | - | 119,850 |
Fidelity Metaverse ETF | 70,500 | - | 70,500 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Clean Energy ETF | 13,226,873 | 13,409,584 |
Fidelity Cloud Computing ETF | 25,178,537 | 17,854,650 |
Fidelity Crypto Industry and Digital Payments ETF | 39,208,552 | 34,174,208 |
Fidelity Digital Health ETF | 3,963,284 | 3,810,845 |
Fidelity Electric Vehicles and Future Transportation ETF | 23,680,379 | 24,204,489 |
Fidelity Metaverse ETF | 16,909,820 | 11,787,673 |
In-Kind Subscriptions ($) | In-Kind Redemptions ($) | |
Fidelity Clean Energy ETF | - | 1,555,875 |
Fidelity Cloud Computing ETF | 40,637,218 | 14,460,978 |
Fidelity Crypto Industry and Digital Payments ETF | 46,285,474 | 10,548,059 |
Fidelity Digital Health ETF | - | 947,279 |
Fidelity Electric Vehicles and Future Transportation ETF | 804,432 | 6,183,964 |
Fidelity Metaverse ETF | 15,335,797 | 7,910,141 |
Fee Rate | |
Fidelity Clean Energy ETF | .39% |
Fidelity Cloud Computing ETF | .39% |
Fidelity Crypto Industry and Digital Payments ETF | .39% |
Fidelity Digital Health ETF | .39% |
Fidelity Electric Vehicles and Future Transportation ETF | .39% |
Fidelity Metaverse ETF | .39% |
Reimbursement ($) | |
Fidelity Clean Energy ETF | 5,060 |
Fidelity Cloud Computing ETF | 4,036 |
Fidelity Crypto Industry and Digital Payments ETF | 10,264 |
Fidelity Digital Health ETF | 1,761 |
Fidelity Electric Vehicles and Future Transportation ETF | 6,803 |
Fidelity Metaverse ETF | 4,418 |
Custodian credits ($) | |
Fidelity Clean Energy ETF | 206 |
Fidelity Cloud Computing ETF | 527 |
Fidelity Crypto Industry and Digital Payments ETF | 2,140 |
Fidelity Digital Health ETF | 100 |
Fidelity Electric Vehicles and Future Transportation ETF | 329 |
Fidelity Metaverse ETF | 696 |
Fidelity Clean Energy ETF | |||
September 2023 December 2023 March 2024 June 2024 | 1% 1% 10% 10% | ||
Fidelity Cloud Computing ETF | |||
September 2023 December 2023 March 2024 June 2024 | 100% 100% 100% 100% | ||
Fidelity Crypto Industry and Digital Payments ETF | |||
September 2023 December 2023 March 2024 June 2024 | - 15% - - | ||
Fidelity Digital Health ETF | |||
September 2023 December 2023 March 2024 June 2024 | - - - 100% | ||
Fidelity Electric Vehicles and Future Transportation ETF | |||
September 2023 December 2023 March 2024 June 2024 | 100% 100% - 56% | ||
Fidelity Metaverse ETF | |||
September 2023 December 2023 March 2024 June 2024 | 11% 50% 57% 57% |
Fidelity Clean Energy ETF | |||
September 2023 December 2023 March 2024 June 2024 | 100% 100% 100% 100% | ||
Fidelity Cloud Computing ETF | |||
September 2023 December 2023 March 2024 June 2024 | 100% 100% 100% 100% | ||
Fidelity Crypto Industry and Digital Payments ETF | |||
September 2023 December 2023 March 2024 June 2024 | - 23.34% - - | ||
Fidelity Digital Health ETF | |||
September 2023 December 2023 March 2024 June 2024 | - - - 100% | ||
Fidelity Electric Vehicles and Future Transportation ETF | |||
September 2023 December 2023 March 2024 June 2024 | 100% 100% - 100% | ||
Fidelity Metaverse ETF | |||
September 2023 December 2023 March 2024 June 2024 | 100% 100% 100% 100% |
Fidelity Crypto Industry and Digital Payments ETF | $1,269 |
Pay Date | Income | Taxes | |
Fidelity Clean Energy ETF | 03/22/23 | $0.0283 | $0.0043 |
06/22/23 | $0.1077 | $0.0164 | |
09/20/23 | $0.0688 | $0.0060 | |
12/20/23 | $0.0295 | $0.0026 | |
Fidelity Electric Vehicles and Future Transportation ETF | 06/22/23 | $0.0133 | $0.0066 |
Contents
Common Stocks - 97.8% | |||
Shares | Value ($) | ||
Australia - 6.5% | |||
ANZ Group Holdings Ltd. | 372,453 | 7,016,606 | |
Aristocrat Leisure Ltd. | 222,719 | 7,393,134 | |
BHP Group Ltd. | 541,305 | 15,411,943 | |
Brambles Ltd. | 213,905 | 2,073,373 | |
Commonwealth Bank of Australia | 54,048 | 4,592,740 | |
Fortescue Ltd. | 691,944 | 9,882,767 | |
Glencore PLC | 574,500 | 3,276,003 | |
Goodman Group unit | 397,976 | 9,225,770 | |
Macquarie Group Ltd. | 65,129 | 8,893,280 | |
Medibank Private Ltd. | 382,300 | 951,271 | |
National Australia Bank Ltd. | 83,586 | 2,020,193 | |
Northern Star Resources Ltd. | 337,899 | 2,930,362 | |
Origin Energy Ltd. | 18,135 | 131,383 | |
QBE Insurance Group Ltd. | 71,953 | 834,717 | |
Reece Ltd. | 79,693 | 1,338,118 | |
Rio Tinto Ltd. | 62,212 | 4,938,693 | |
Rio Tinto PLC sponsored ADR | 108,918 | 7,180,964 | |
Telstra Group Ltd. | 1,046,434 | 2,527,036 | |
The GPT Group | 678,446 | 1,810,365 | |
Wesfarmers Ltd. | 209,080 | 9,091,128 | |
TOTAL AUSTRALIA | 101,519,846 | ||
Austria - 0.1% | |||
Mondi PLC | 55,426 | 1,063,922 | |
Belgium - 0.6% | |||
Ageas | 157,466 | 7,197,479 | |
Groupe Bruxelles Lambert SA | 4,909 | 350,399 | |
Warehouses de Pauw | 54,120 | 1,466,383 | |
TOTAL BELGIUM | 9,014,261 | ||
China - 1.5% | |||
BOC Hong Kong (Holdings) Ltd. | 2,838,000 | 8,740,359 | |
Prosus NV | 333,320 | 11,872,791 | |
Wilmar International Ltd. | 1,067,500 | 2,440,450 | |
TOTAL CHINA | 23,053,600 | ||
Denmark - 4.1% | |||
A.P. Moller - Maersk A/S: | |||
Series A | 1,050 | 1,782,191 | |
Series B | 1,188 | 2,065,041 | |
Genmab A/S (a) | 25,105 | 6,290,760 | |
Genmab A/S ADR (a)(b) | 109,586 | 2,753,896 | |
Novo Nordisk A/S: | |||
Series B | 317,005 | 45,776,113 | |
Series B sponsored ADR | 24,954 | 3,561,934 | |
Pandora A/S | 7,470 | 1,127,381 | |
Vestas Wind Systems A/S (a) | 46,538 | 1,077,593 | |
TOTAL DENMARK | 64,434,909 | ||
Finland - 2.4% | |||
Fortum Corp. | 66,017 | 965,067 | |
Kesko Oyj | 160,532 | 2,817,797 | |
Kone OYJ (B Shares) | 183,683 | 9,066,609 | |
Nokia Corp. | 1,709,458 | 6,514,703 | |
Nokia Corp. sponsored ADR | 881,040 | 3,330,331 | |
Nordea Bank Abp | 607,927 | 7,232,720 | |
UPM-Kymmene Corp. | 73,475 | 2,566,804 | |
Wartsila Corp. | 249,749 | 4,814,436 | |
TOTAL FINLAND | 37,308,467 | ||
France - 8.2% | |||
Air Liquide SA | 91,211 | 15,754,221 | |
Airbus Group NV | 1,535 | 210,848 | |
Arkema SA | 29,272 | 2,543,959 | |
bioMerieux SA | 5,635 | 535,589 | |
BNP Paribas SA | 54,579 | 3,479,611 | |
Capgemini SA | 11,467 | 2,280,504 | |
Carrefour SA | 117,006 | 1,654,060 | |
Compagnie de St.-Gobain | 45,777 | 3,560,187 | |
Covivio | 31,285 | 1,486,937 | |
Danone SA | 31,430 | 1,921,310 | |
Eiffage SA | 82,465 | 7,573,971 | |
Gecina SA | 15,721 | 1,447,089 | |
Hermes International SCA | 830 | 1,902,221 | |
L'Oreal SA | 37,883 | 16,636,056 | |
La Francaise des Jeux SAEM (c) | 73,167 | 2,491,791 | |
Legrand SA | 99,661 | 9,887,648 | |
LVMH Moet Hennessy Louis Vuitton SE | 15,356 | 11,735,515 | |
Publicis Groupe SA | 6,169 | 656,573 | |
Safran SA | 63,300 | 13,381,970 | |
TotalEnergies SE | 307,056 | 20,496,698 | |
Ubisoft Entertainment SA (a) | 50,533 | 1,106,178 | |
Veolia Environnement SA | 225,259 | 6,735,452 | |
TOTAL FRANCE | 127,478,388 | ||
Germany - 7.0% | |||
Allianz SE | 18,320 | 5,091,339 | |
BASF AG | 19,503 | 943,767 | |
Bayer AG | 159,902 | 4,517,497 | |
Deutsche Bank AG | 659,104 | 10,523,072 | |
Deutsche Borse AG | 27,669 | 5,662,697 | |
Deutsche Telekom AG | 384,462 | 9,667,645 | |
Evonik Industries AG | 87,872 | 1,792,729 | |
Fresenius SE & Co. KGaA (a) | 277,161 | 8,275,497 | |
GEA Group AG | 24,996 | 1,041,332 | |
Hannover Reuck SE | 3 | 760 | |
HeidelbergCement AG | 74,982 | 7,774,837 | |
Infineon Technologies AG | 190,941 | 7,014,970 | |
Knorr-Bremse AG | 24,206 | 1,848,340 | |
Mercedes-Benz Group AG: | |||
ADR | 51,823 | 893,947 | |
(Germany) | 368 | 25,448 | |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 27,426 | 13,716,665 | |
Rational AG | 1,117 | 930,085 | |
SAP SE | 53,956 | 10,951,257 | |
Scout24 AG (c) | 14,317 | 1,091,695 | |
Siemens AG | 63,978 | 11,902,815 | |
Siemens AG sponsored ADR | 21,587 | 2,012,988 | |
Talanx AG | 34,463 | 2,751,503 | |
Volkswagen AG | 2,744 | 329,427 | |
TOTAL GERMANY | 108,760,312 | ||
Hong Kong - 2.6% | |||
AIA Group Ltd. | 1,725,632 | 11,711,859 | |
AIA Group Ltd. ADR | 75,816 | 2,049,306 | |
CLP Holdings Ltd. | 913,000 | 7,377,376 | |
HKT Trust/HKT Ltd. unit | 258,000 | 289,418 | |
Hong Kong Exchanges and Clearing Ltd. | 55,000 | 1,762,186 | |
Jardine Matheson Holdings Ltd. | 110,700 | 3,916,566 | |
Prudential PLC | 206,385 | 1,874,243 | |
Sun Hung Kai Properties Ltd. | 831,500 | 7,192,658 | |
Swire Pacific Ltd. (A Shares) | 90,000 | 795,231 | |
WH Group Ltd. (c) | 4,172,455 | 2,746,354 | |
TOTAL HONG KONG | 39,715,197 | ||
Israel - 0.6% | |||
Bank Hapoalim BM (Reg.) | 38,804 | 342,201 | |
Wix.com Ltd. (a) | 54,661 | 8,694,925 | |
TOTAL ISRAEL | 9,037,126 | ||
Italy - 1.9% | |||
Assicurazioni Generali SpA | 115,250 | 2,874,615 | |
Coca-Cola HBC AG | 257,176 | 8,771,095 | |
Eni SpA | 48,294 | 742,395 | |
Intesa Sanpaolo SpA | 3,449,235 | 12,821,729 | |
UniCredit SpA | 118,055 | 4,375,145 | |
UniCredit SpA ADR | 21,909 | 408,822 | |
TOTAL ITALY | 29,993,801 | ||
Japan - 22.8% | |||
Central Japan Railway Co. | 191,800 | 4,140,229 | |
Chubu Electric Power Co., Inc. | 557,800 | 6,590,700 | |
Daiichi Sankyo Kabushiki Kaisha | 18,900 | 648,913 | |
Daiwa Securities Group, Inc. | 1,116,448 | 8,514,399 | |
DENSO Corp. | 6,400 | 99,367 | |
Disco Corp. | 28,250 | 10,717,757 | |
Fast Retailing Co. Ltd. | 36,742 | 9,262,574 | |
Fujitsu Ltd. | 201,100 | 3,146,054 | |
Hitachi Ltd. | 804,000 | 17,994,928 | |
Honda Motor Co. Ltd. | 1,112,306 | 11,891,145 | |
Hoya Corp. | 88,084 | 10,240,607 | |
JFE Holdings, Inc. | 499,900 | 7,194,471 | |
Kansai Electric Power Co., Inc. | 522,500 | 8,774,908 | |
Kawasaki Kisen Kaisha Ltd. | 63,000 | 916,278 | |
KDDI Corp. | 336,700 | 8,902,491 | |
Keyence Corp. | 800 | 350,799 | |
Komatsu Ltd. | 73,100 | 2,122,258 | |
Kyocera Corp. | 117,800 | 1,355,626 | |
LY Corp. | 3,038,122 | 7,343,686 | |
Makita Corp. | 158,400 | 4,304,337 | |
Marubeni Corp. | 353,200 | 6,532,082 | |
Mazda Motor Corp. | 411,700 | 3,981,635 | |
Mitsubishi Chemical Group Corp. | 591,800 | 3,285,080 | |
Mitsubishi Corp. | 629,918 | 12,325,078 | |
Mitsubishi Electric Corp. | 459,100 | 7,326,367 | |
Mitsubishi UFJ Financial Group, Inc. | 1,316,500 | 14,147,731 | |
Mitsubishi UFJ Financial Group, Inc. sponsored ADR | 95,809 | 1,034,737 | |
Mitsui & Co. Ltd. | 406,200 | 9,217,703 | |
MS&AD Insurance Group Holdings, Inc. | 497,700 | 11,058,969 | |
Murata Manufacturing Co. Ltd. | 252,800 | 5,219,725 | |
Nidec Corp. | 52,700 | 2,353,468 | |
Nippon Paint Holdings Co. Ltd. | 767,500 | 4,999,316 | |
Nippon Steel Corp. | 121,600 | 2,570,462 | |
Nippon Telegraph & Telephone Corp. | 1,320,400 | 1,245,800 | |
Nippon Yusen KK (b) | 201,700 | 5,869,597 | |
Nissan Motor Co. Ltd. sponsored ADR (b) | 90,349 | 613,470 | |
Nitto Denko Corp. | 81,900 | 6,469,942 | |
Nomura Holdings, Inc. | 312,900 | 1,793,112 | |
Nomura Research Institute Ltd. | 10,300 | 289,429 | |
ORIX Corp. | 85,800 | 1,894,223 | |
Osaka Gas Co. Ltd. | 215,700 | 4,749,985 | |
Pan Pacific International Holdings Ltd. | 33,800 | 790,746 | |
Panasonic Holdings Corp. | 1,000,500 | 8,189,810 | |
Rakuten Group, Inc. (a) | 470,300 | 2,425,893 | |
Recruit Holdings Co. Ltd. | 79,900 | 4,274,345 | |
Renesas Electronics Corp. | 549,000 | 10,267,518 | |
Screen Holdings Co. Ltd. | 10,000 | 901,237 | |
SCSK Corp. | 48,300 | 964,559 | |
Shin-Etsu Chemical Co. Ltd. ADR (b) | 16,430 | 319,399 | |
Shionogi & Co. Ltd. | 34,400 | 1,342,090 | |
SoftBank Corp. | 830,064 | 10,135,252 | |
Sompo Holdings, Inc. | 439,700 | 9,387,591 | |
Sony Group Corp. | 104,836 | 8,887,830 | |
Subaru Corp. | 283,358 | 6,005,661 | |
Sumitomo Corp. | 39,900 | 996,198 | |
Terumo Corp. | 193,100 | 3,184,128 | |
Tokio Marine Holdings, Inc. | 236,400 | 8,823,308 | |
Tokyo Electron Ltd. | 72,900 | 15,813,351 | |
Tokyo Electron Ltd. ADR | 14,481 | 1,585,670 | |
Toppan Holdings, Inc. | 29,400 | 810,058 | |
Toyota Motor Corp. | 594,361 | 12,153,942 | |
Toyota Tsusho Corp. | 417,000 | 8,117,621 | |
Yokogawa Electric Corp. | 344,100 | 8,319,653 | |
TOTAL JAPAN | 355,185,298 | ||
Luxembourg - 0.1% | |||
Eurofins Scientific SA | 39,607 | 1,974,517 | |
Netherlands - 5.9% | |||
Akzo Nobel NV | 14,257 | 866,947 | |
ASM International NV (Netherlands) | 8,445 | 6,437,642 | |
ASML Holding NV: | |||
(depository receipt) | 17,444 | 17,840,502 | |
(Netherlands) | 27,834 | 28,741,666 | |
BE Semiconductor Industries NV | 14,664 | 2,452,244 | |
EXOR NV | 7,169 | 750,105 | |
Koninklijke Ahold Delhaize NV | 167,661 | 4,953,965 | |
Koninklijke Philips Electronics NV | 376,581 | 9,513,833 | |
NN Group NV | 190,847 | 8,880,641 | |
Wolters Kluwer NV | 69,493 | 11,520,762 | |
TOTAL NETHERLANDS | 91,958,307 | ||
New Zealand - 0.1% | |||
Meridian Energy Ltd. | 604,032 | 2,314,191 | |
Norway - 0.3% | |||
DNB Bank ASA | 45,515 | 893,930 | |
Gjensidige Forsikring ASA | 168,095 | 3,003,889 | |
TOTAL NORWAY | 3,897,819 | ||
Singapore - 1.9% | |||
CapitaLand Ascendas REIT | 1,482,600 | 2,799,009 | |
Oversea-Chinese Banking Corp. Ltd. | 1,002,800 | 10,671,389 | |
Singapore Technologies Engineering Ltd. | 1,940,700 | 6,197,073 | |
STMicroelectronics NV (France) | 42 | 1,658 | |
United Overseas Bank Ltd. | 455,555 | 10,525,471 | |
TOTAL SINGAPORE | 30,194,600 | ||
South Africa - 0.0% | |||
Anglo American PLC (United Kingdom) | 20,640 | 652,797 | |
Spain - 3.8% | |||
ACS Actividades de Construccion y Servicios SA | 34,151 | 1,473,201 | |
Aena SME SA (c) | 41,159 | 8,286,895 | |
Banco Bilbao Vizcaya Argentaria SA | 1,107,708 | 11,094,276 | |
Banco Bilbao Vizcaya Argentaria SA sponsored ADR | 221,521 | 2,221,856 | |
Banco Santander SA (Spain) | 881,991 | 4,090,453 | |
CaixaBank SA | 797,190 | 4,220,089 | |
Iberdrola SA | 1,119,391 | 14,523,605 | |
Industria de Diseno Textil SA | 253,656 | 12,593,828 | |
TOTAL SPAIN | 58,504,203 | ||
Sweden - 2.2% | |||
ASSA ABLOY AB (B Shares) | 26,249 | 741,976 | |
Essity AB (B Shares) | 58,113 | 1,488,052 | |
Evolution AB (c) | 30,897 | 3,218,255 | |
H&M Hennes & Mauritz AB (B Shares) | 223,661 | 3,537,765 | |
Industrivarden AB (A Shares) | 69,777 | 2,373,959 | |
Saab AB (B Shares) | 91,281 | 2,196,118 | |
SKF AB (B Shares) | 86,627 | 1,739,242 | |
Swedish Orphan Biovitrum AB (a) | 144,003 | 3,853,123 | |
Volvo AB (B Shares) | 451,094 | 11,538,030 | |
Volvo Car AB (a)(b) | 1,403,482 | 4,341,273 | |
TOTAL SWEDEN | 35,027,793 | ||
Switzerland - 5.6% | |||
ABB Ltd.: | |||
(Reg.) | 219,022 | 12,169,379 | |
sponsored ADR | 78,976 | 4,399,753 | |
Alcon, Inc. (Switzerland) | 96,888 | 8,650,849 | |
BKW AG | 4,769 | 760,641 | |
Compagnie Financiere Richemont SA | 2,830 | 443,299 | |
Givaudan SA | 2,593 | 12,294,708 | |
Kuehne & Nagel International AG | 8,164 | 2,348,019 | |
Logitech International SA (Reg.) | 33,262 | 3,217,912 | |
Novartis AG | 247,228 | 26,463,261 | |
Novartis AG sponsored ADR | 15,755 | 1,677,277 | |
SGS SA (Reg.) | 65,042 | 5,791,485 | |
UBS Group AG | 29,729 | 875,210 | |
Zurich Insurance Group Ltd. | 16,109 | 8,590,152 | |
TOTAL SWITZERLAND | 87,681,945 | ||
United Kingdom - 10.1% | |||
3i Group PLC | 31,022 | 1,202,329 | |
AstraZeneca PLC: | |||
(United Kingdom) | 83,405 | 13,027,210 | |
sponsored ADR | 14,814 | 1,155,344 | |
Aviva PLC | 217,261 | 1,308,932 | |
BAE Systems PLC | 752,969 | 12,564,131 | |
Barclays PLC sponsored ADR | 179,643 | 1,923,977 | |
British American Tobacco PLC: | |||
(United Kingdom) | 82,865 | 2,545,416 | |
sponsored ADR (b) | 338,962 | 10,484,095 | |
Bunzl PLC | 120,325 | 4,578,295 | |
Centrica PLC | 952,061 | 1,623,522 | |
CK Hutchison Holdings Ltd. | 560,500 | 2,684,411 | |
Coca-Cola Europacific Partners PLC | 40,454 | 2,947,883 | |
Halma PLC | 35,781 | 1,223,944 | |
Hargreaves Lansdown PLC | 108,605 | 1,554,095 | |
HSBC Holdings PLC: | |||
(United Kingdom) | 1,825,861 | 15,784,897 | |
sponsored ADR (b) | 145,097 | 6,311,720 | |
Land Securities Group PLC | 142,504 | 1,115,963 | |
Lloyds Banking Group PLC | 2,578,404 | 1,784,174 | |
London Stock Exchange Group PLC | 19,048 | 2,263,386 | |
M&G PLC | 861,900 | 2,222,637 | |
NatWest Group PLC | 6,528 | 25,730 | |
NatWest Group PLC sponsored ADR (b) | 78,714 | 632,073 | |
Reckitt Benckiser Group PLC | 13,015 | 704,486 | |
RELX PLC sponsored ADR | 73,154 | 3,356,306 | |
Rolls-Royce Holdings PLC (a) | 2,138,416 | 12,348,088 | |
Sage Group PLC | 661,520 | 9,102,336 | |
Schroders PLC | 397,809 | 1,829,442 | |
Smith & Nephew PLC sponsored ADR (b) | 30,670 | 760,003 | |
SSE PLC | 23,115 | 522,886 | |
Standard Chartered PLC (United Kingdom) | 426,799 | 3,862,939 | |
Tesco PLC | 2,562,152 | 9,910,778 | |
Tesco PLC Sponsored ADR (b) | 31,544 | 371,588 | |
Unilever PLC | 95,816 | 5,262,708 | |
Unilever PLC sponsored ADR | 165,019 | 9,074,395 | |
Vodafone Group PLC | 6,706,538 | 5,914,068 | |
Vodafone Group PLC sponsored ADR | 406,778 | 3,608,121 | |
Wise PLC (a) | 162,545 | 1,400,299 | |
TOTAL UNITED KINGDOM | 156,992,607 | ||
United States of America - 9.5% | |||
BP PLC | 335,633 | 2,016,149 | |
BP PLC sponsored ADR | 11 | 397 | |
CRH PLC | 45,209 | 3,369,487 | |
CSL Ltd. | 2,110 | 415,532 | |
GSK PLC | 355,827 | 6,879,705 | |
GSK PLC sponsored ADR | 205,834 | 7,924,609 | |
Holcim AG | 86,288 | 7,646,781 | |
Monday.com Ltd. (a) | 27,418 | 6,601,158 | |
Nestle SA (Reg. S) | 169,457 | 17,299,344 | |
QIAGEN NV (Germany) | 203,034 | 8,382,284 | |
Roche Holding AG: | |||
(Bearer) | 3,334 | 1,016,027 | |
(participation certificate) | 83,037 | 23,059,415 | |
sponsored ADR | 69,899 | 2,423,398 | |
Sanofi SA | 110,864 | 10,678,558 | |
Sanofi SA sponsored ADR | 22,588 | 1,095,970 | |
Schneider Electric SA | 78,685 | 18,901,245 | |
Schneider Electric SA ADR | 16,786 | 808,078 | |
Shell PLC: | |||
ADR | 32,660 | 2,357,399 | |
(London) | 756,035 | 27,084,647 | |
TOTAL UNITED STATES OF AMERICA | 147,960,183 | ||
TOTAL COMMON STOCKS (Cost $1,248,973,324) | 1,523,724,089 | ||
Nonconvertible Preferred Stocks - 0.6% | |||
Shares | Value ($) | ||
Germany - 0.6% | |||
Volkswagen AG (Cost $11,022,711) | 84,797 | 9,571,727 | |
Government Obligations - 0.1% | |||
Principal Amount (d) | Value ($) | ||
United States of America - 0.1% | |||
U.S. Treasury Bills, yield at date of purchase 5.3% to 5.32% 8/29/24 to 9/19/24 (e) (Cost $1,058,952) | 1,070,000 | 1,058,969 | |
Money Market Funds - 1.7% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (f) | 15,815,510 | 15,818,673 | |
Fidelity Securities Lending Cash Central Fund 5.38% (f)(g) | 10,014,522 | 10,015,523 | |
TOTAL MONEY MARKET FUNDS (Cost $25,834,196) | 25,834,196 | ||
TOTAL INVESTMENT IN SECURITIES - 100.2% (Cost $1,286,889,183) | 1,560,188,981 |
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (2,337,660) |
NET ASSETS - 100.0% | 1,557,851,321 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
ICE MSCI EAFE Index Contracts (United States) | 145 | Sep 2024 | 16,988,200 | 77,419 | 77,419 |
The notional amount of futures purchased as a percentage of Net Assets is 1.1% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $17,834,990 or 1.1% of net assets. |
(d) | Amount is stated in United States dollars unless otherwise noted. |
(e) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $548,960. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 19,925,982 | 355,358,755 | 359,466,128 | 632,835 | 64 | - | 15,818,673 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.38% | 10,181,938 | 230,180,221 | 230,346,636 | 250,150 | - | - | 10,015,523 | 0.0% |
Total | 30,107,920 | 585,538,976 | 589,812,764 | 882,985 | 64 | - | 25,834,196 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 52,487,963 | 52,487,963 | - | - |
Consumer Discretionary | 144,871,003 | 144,871,003 | - | - |
Consumer Staples | 102,029,832 | 102,029,832 | - | - |
Energy | 52,697,685 | 52,697,685 | - | - |
Financials | 294,227,637 | 294,227,637 | - | - |
Health Care | 216,077,939 | 216,077,939 | - | - |
Industrials | 289,427,145 | 289,427,145 | - | - |
Information Technology | 173,337,130 | 173,337,130 | - | - |
Materials | 125,730,361 | 125,730,361 | - | - |
Real Estate | 27,339,405 | 27,339,405 | - | - |
Utilities | 55,069,716 | 55,069,716 | - | - |
Government Obligations | 1,058,969 | - | 1,058,969 | - |
Money Market Funds | 25,834,196 | 25,834,196 | - | - |
Total Investments in Securities: | 1,560,188,981 | 1,559,130,012 | 1,058,969 | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 77,419 | 77,419 | - | - |
Total Assets | 77,419 | 77,419 | - | - |
Total Derivative Instruments: | 77,419 | 77,419 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 77,419 | 0 |
Total Equity Risk | 77,419 | 0 |
Total Value of Derivatives | 77,419 | 0 |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $9,681,309) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,261,054,987) | $ | 1,534,354,785 | ||
Fidelity Central Funds (cost $25,834,196) | 25,834,196 | |||
Total Investment in Securities (cost $1,286,889,183) | $ | 1,560,188,981 | ||
Cash | 493,456 | |||
Foreign currency held at value (cost $1,264,442) | 1,264,850 | |||
Receivable for investments sold | 40,945,439 | |||
Dividends receivable | 1,950,776 | |||
Reclaims receivable | 4,485,026 | |||
Interest receivable | 304 | |||
Distributions receivable from Fidelity Central Funds | 189,849 | |||
Receivable for daily variation margin on futures contracts | 23,200 | |||
Receivable from investment adviser for expense reductions | 34,752 | |||
Other receivables | 9,146 | |||
Total assets | 1,609,585,779 | |||
Liabilities | ||||
Payable for investments purchased | $ | 41,264,596 | ||
Accrued management fee | 360,090 | |||
Other payables and accrued expenses | 94,162 | |||
Collateral on securities loaned | 10,015,610 | |||
Total liabilities | 51,734,458 | |||
Net Assets | $ | 1,557,851,321 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,412,926,033 | ||
Total accumulated earnings (loss) | 144,925,288 | |||
Net Assets | $ | 1,557,851,321 | ||
Net Asset Value, offering price and redemption price per share ($1,557,851,321 ÷ 55,079,106 shares) | $ | 28.28 |
Statement of Operations | ||||||
Ten months ended June 30, 2024 | Year ended August 31, 2023 | |||||
Investment Income | ||||||
Dividends | $ | 41,545,874 | 52,511,526 | |||
Interest | 58,810 | 45,321 | ||||
Income from Fidelity Central Funds (including $250,150 and $307,137 from security lending) | 882,985 | 1,171,963 | ||||
Income before foreign taxes withheld | $ | 42,487,669 | 53,728,810 | |||
Less foreign taxes withheld | (3,292,750) | (4,648,683) | ||||
Total income | 39,194,919 | 49,080,127 | ||||
Expenses | ||||||
Management fee | $ | 4,154,555 | 8,333,434 | |||
Independent trustees' fees and expenses | 5,791 | 8,052 | ||||
Interest | 19,359 | 16,731 | ||||
Miscellaneous | 116,659 | - | ||||
Total expenses before reductions | 4,296,364 | 8,358,217 | ||||
Expense reductions | (34,901) | (441) | ||||
Total expenses after reductions | 4,261,463 | 8,357,776 | ||||
Net Investment income (loss) | 34,933,456 | 40,722,351 | ||||
Realized and Unrealized Gain (Loss) | ||||||
Net realized gain (loss) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | 70,605,208 | (34,624,969) | ||||
Redemptions in-kind | 25,930,557 | - | ||||
Fidelity Central Funds | 64 | - | ||||
Foreign currency transactions | 93,905 | (599,124) | ||||
Futures contracts | 2,637,988 | 3,144,313 | ||||
Total net realized gain (loss) | 99,267,722 | (32,079,780) | ||||
Change in net unrealized appreciation (depreciation) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | 58,719,576 | 261,104,444 | ||||
Assets and liabilities in foreign currencies | 7,628 | 281,786 | ||||
Futures contracts | 90,649 | (176,537) | ||||
Total change in net unrealized appreciation (depreciation) | 58,817,853 | 261,209,693 | ||||
Net gain (loss) | 158,085,575 | 229,129,913 | ||||
Net increase (decrease) in net assets resulting from operations | $ | 193,019,031 | 269,852,264 |
See Organization and Merger information note regarding reorganization from mutual fund to exchange traded fund.
Statement of Changes in Net Assets | ||||||
Ten months ended June 30, 2024 | Year ended August 31, 2023 | Year ended August 31, 2022 | ||||
Increase (Decrease) in Net Assets | ||||||
Operations | ||||||
Net investment income (loss) | $ | 34,933,456 | $ | 40,722,351 | $ | 44,150,052 |
Net realized gain (loss) | 99,267,722 | (32,079,780) | (40,880,584) | |||
Change in net unrealized appreciation (depreciation) | 58,817,853 | 261,209,693 | (317,751,294) | |||
Net increase (decrease) in net assets resulting from operations | 193,019,031 | 269,852,264 | (314,481,826) | |||
Distributions to shareholders | (71,077,009) | (33,763,256) | (40,640,601) | |||
Share transactions | ||||||
Proceeds from sales of shares | 229,678,767 | 600,539,896 | 742,204,628 | |||
Reinvestment of distributions | 30,814,353 | 24,033,209 | 33,150,295 | |||
Cost of shares redeemed | (389,696,365) | (600,353,896) | (794,518,975) | |||
Net increase (decrease) in net assets resulting from share transactions | (129,203,245) | 24,219,209 | (19,164,052) | |||
Total increase (decrease) in net assets | (7,261,223) | 260,308,217 | (374,286,479) | |||
Net Assets | ||||||
Beginning of period | 1,565,112,544 | 1,304,804,327 | 1,679,090,806 | |||
End of period | $ | 1,557,851,321 | $ | 1,565,112,544 | $ | 1,304,804,327 |
Other Information | ||||||
Shares | ||||||
Sold | 8,475,592 | 26,342,964 | 29,583,912 | |||
Issued in reinvestment of distributions | 1,276,109 | 1,026,385 | 1,227,154 | |||
Redeemed | (15,496,865) | (25,639,395) | (30,636,231) | |||
Net increase (decrease) | (5,745,164) | 1,729,954 | 174,835 | |||
Fidelity® Enhanced International ETF |
Years ended June 30, | 2024 A,B | 2023 A,C | 2022 A,C | 2021 A,C | 2020 A,C | 2019 A,C | ||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 25.73 | $ | 22.08 | $ | 28.49 | $ | 22.68 | $ | 22.13 | $ | 24.23 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) D,E | .65 | .64 | .76 | .62 | .47 | .74 | ||||||
Net realized and unrealized gain (loss) | 3.19 | 3.58 | (6.43) | 5.61 | .79 | (2.35) | ||||||
Total from investment operations | 3.84 | 4.22 | (5.67) | 6.23 | 1.26 | (1.61) | ||||||
Distributions from net investment income | (1.29) | (.57) | (.74) | (.42) | (.71) | (.49) | ||||||
Total distributions | (1.29) | (.57) | (.74) | (.42) | (.71) | (.49) | ||||||
Net asset value, end of period | $ | 28.28 | $ | 25.73 | $ | 22.08 | $ | 28.49 | $ | 22.68 | $ | 22.13 |
Total Return F,G,H | 15.53 % | 19.29% | (20.35)% | 27.77% | 5.55% | (6.51)% | ||||||
Ratios to Average Net Assets E,I,J | ||||||||||||
Expenses before reductions | .36% K,L | .55% | .57% | .59% | .59% | .59% | ||||||
Expenses net of fee waivers, if any | .36 % K,L | .55% | .57% | .59% | .59% | .59% | ||||||
Expenses net of all reductions | .36% K,L | .55% | .57% | .59% | .59% | .59% | ||||||
Net investment income (loss) | 2.95% K,L | 2.69% | 2.99% | 2.32% | 2.13% | 3.27% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,557,851 | $ | 1,565,113 | $ | 1,304,804 | $ | 1,679,091 | $ | 1,182,923 | $ | 1,505,889 |
Portfolio turnover rate M | 109 % L,N | 105% | 114% | 82% | 75% | 103% |
Common Stocks - 99.1% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 11.3% | |||
Diversified Telecommunication Services - 0.9% | |||
AT&T, Inc. | 815,773 | 15,589,422 | |
Verizon Communications, Inc. | 276,635 | 11,408,427 | |
26,997,849 | |||
Entertainment - 1.9% | |||
Electronic Arts, Inc. | 30,915 | 4,307,387 | |
Netflix, Inc. (a) | 39,462 | 26,632,115 | |
Playtika Holding Corp. | 181,585 | 1,429,074 | |
Spotify Technology SA (a) | 27,880 | 8,748,465 | |
The Walt Disney Co. | 134,593 | 13,363,739 | |
54,480,780 | |||
Interactive Media & Services - 7.7% | |||
Alphabet, Inc.: | |||
Class A | 369,980 | 67,391,857 | |
Class C | 392,379 | 71,970,156 | |
Meta Platforms, Inc. Class A | 167,870 | 84,643,411 | |
224,005,424 | |||
Media - 0.8% | |||
Comcast Corp. Class A | 614,180 | 24,051,289 | |
TOTAL COMMUNICATION SERVICES | 329,535,342 | ||
CONSUMER DISCRETIONARY - 9.7% | |||
Automobiles - 1.1% | |||
Ford Motor Co. | 1,186,492 | 14,878,610 | |
Tesla, Inc. (a) | 93,280 | 18,458,246 | |
33,336,856 | |||
Broadline Retail - 3.9% | |||
Amazon.com, Inc. (a) | 584,786 | 113,009,895 | |
Hotels, Restaurants & Leisure - 1.5% | |||
Chipotle Mexican Grill, Inc. (a) | 167,757 | 10,509,976 | |
International Game Technology PLC | 540,912 | 11,067,060 | |
McDonald's Corp. | 59,527 | 15,169,861 | |
MGM Resorts International (a) | 162,049 | 7,201,458 | |
43,948,355 | |||
Household Durables - 0.2% | |||
Lennar Corp. Class A | 4,486 | 672,317 | |
Taylor Morrison Home Corp. (a) | 32,133 | 1,781,454 | |
Toll Brothers, Inc. | 29,111 | 3,353,005 | |
5,806,776 | |||
Specialty Retail - 3.0% | |||
Abercrombie & Fitch Co. Class A (a) | 39,181 | 6,967,949 | |
Burlington Stores, Inc. (a) | 25,457 | 6,109,680 | |
Carvana Co. Class A (a) | 125,426 | 16,144,835 | |
Gap, Inc. | 366,032 | 8,744,504 | |
Ross Stores, Inc. | 70,549 | 10,252,181 | |
The Home Depot, Inc. | 101,769 | 35,032,961 | |
TJX Companies, Inc. | 25,593 | 2,817,789 | |
86,069,899 | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Crocs, Inc. (a) | 10 | 1,459 | |
NIKE, Inc. Class B | 14 | 1,055 | |
Tapestry, Inc. | 19 | 813 | |
3,327 | |||
TOTAL CONSUMER DISCRETIONARY | 282,175,108 | ||
CONSUMER STAPLES - 4.3% | |||
Beverages - 0.8% | |||
Boston Beer Co., Inc. Class A (a) | 16,091 | 4,908,560 | |
PepsiCo, Inc. | 17,559 | 2,896,006 | |
The Coca-Cola Co. | 228,591 | 14,549,817 | |
22,354,383 | |||
Consumer Staples Distribution & Retail - 2.1% | |||
Costco Wholesale Corp. | 31,879 | 27,096,831 | |
Kroger Co. | 15,356 | 766,725 | |
Maplebear, Inc. (NASDAQ) | 16 | 514 | |
Walmart, Inc. | 477,882 | 32,357,390 | |
60,221,460 | |||
Food Products - 0.0% | |||
Archer Daniels Midland Co. | 10,060 | 608,127 | |
The Kraft Heinz Co. | 756 | 24,358 | |
632,485 | |||
Household Products - 1.4% | |||
Colgate-Palmolive Co. | 129,816 | 12,597,345 | |
Kimberly-Clark Corp. | 78 | 10,780 | |
Procter & Gamble Co. | 177,163 | 29,217,722 | |
41,825,847 | |||
Tobacco - 0.0% | |||
Philip Morris International, Inc. | 7,420 | 751,869 | |
TOTAL CONSUMER STAPLES | 125,786,044 | ||
ENERGY - 3.1% | |||
Energy Equipment & Services - 0.0% | |||
Baker Hughes Co. Class A | 540 | 18,992 | |
Oil, Gas & Consumable Fuels - 3.1% | |||
California Resources Corp. | 198 | 10,538 | |
Chevron Corp. | 17,812 | 2,786,153 | |
ConocoPhillips Co. | 136,359 | 15,596,742 | |
Devon Energy Corp. | 87,024 | 4,124,938 | |
EOG Resources, Inc. | 145,841 | 18,357,007 | |
Exxon Mobil Corp. | 411,520 | 47,374,182 | |
Occidental Petroleum Corp. warrants 8/3/27 (a) | 4,716 | 194,111 | |
88,443,671 | |||
TOTAL ENERGY | 88,462,663 | ||
FINANCIALS - 12.2% | |||
Banks - 2.9% | |||
Bank of America Corp. | 820,931 | 32,648,426 | |
JPMorgan Chase & Co. | 256,981 | 51,976,977 | |
Wells Fargo & Co. | 4,153 | 246,647 | |
84,872,050 | |||
Capital Markets - 2.2% | |||
Ameriprise Financial, Inc. | 7,780 | 3,323,538 | |
Bank of New York Mellon Corp. | 128,670 | 7,706,046 | |
BlackRock, Inc. | 9,165 | 7,215,788 | |
Charles Schwab Corp. | 125,522 | 9,249,716 | |
CME Group, Inc. | 85,141 | 16,738,721 | |
Goldman Sachs Group, Inc. | 7,889 | 3,568,352 | |
LPL Financial | 17,244 | 4,816,249 | |
Morgan Stanley | 46,978 | 4,565,792 | |
S&P Global, Inc. | 3 | 1,338 | |
T. Rowe Price Group, Inc. | 44,540 | 5,135,907 | |
Tradeweb Markets, Inc. Class A | 18,295 | 1,939,270 | |
64,260,717 | |||
Consumer Finance - 0.8% | |||
American Express Co. | 97,863 | 22,660,178 | |
Financial Services - 4.3% | |||
Berkshire Hathaway, Inc. Class B (a) | 149,135 | 60,668,118 | |
Block, Inc. Class A (a) | 43,978 | 2,836,141 | |
Enact Holdings, Inc. | 16,780 | 514,475 | |
Jackson Financial, Inc. | 25,246 | 1,874,768 | |
MasterCard, Inc. Class A | 80,247 | 35,401,767 | |
PayPal Holdings, Inc. (a) | 218,459 | 12,677,176 | |
Visa, Inc. Class A | 47,644 | 12,505,121 | |
126,477,566 | |||
Insurance - 2.0% | |||
Aon PLC | 36,692 | 10,772,037 | |
Brown & Brown, Inc. | 7,147 | 639,013 | |
Globe Life, Inc. | 55,340 | 4,553,375 | |
Hartford Financial Services Group, Inc. | 2 | 201 | |
Marsh & McLennan Companies, Inc. | 13,662 | 2,878,857 | |
Progressive Corp. | 106,718 | 22,166,396 | |
Selective Insurance Group, Inc. | 8 | 751 | |
The Travelers Companies, Inc. | 35,635 | 7,246,021 | |
Unum Group | 90,994 | 4,650,703 | |
Willis Towers Watson PLC | 17,933 | 4,700,957 | |
57,608,311 | |||
TOTAL FINANCIALS | 355,878,822 | ||
HEALTH CARE - 12.5% | |||
Biotechnology - 3.5% | |||
AbbVie, Inc. | 163,694 | 28,076,795 | |
Alkermes PLC (a)(b) | 173,295 | 4,176,410 | |
Amgen, Inc. | 36,655 | 11,452,855 | |
Biogen, Inc. (a) | 25,087 | 5,815,668 | |
Exelixis, Inc. (a) | 553,462 | 12,436,291 | |
Gilead Sciences, Inc. | 296,575 | 20,348,011 | |
Halozyme Therapeutics, Inc. (a) | 78,559 | 4,113,349 | |
Incyte Corp. (a) | 226,518 | 13,731,521 | |
Neurocrine Biosciences, Inc. (a) | 12,879 | 1,773,052 | |
101,923,952 | |||
Health Care Equipment & Supplies - 1.3% | |||
Becton, Dickinson & Co. | 53,646 | 12,537,607 | |
Edwards Lifesciences Corp. (a) | 54,559 | 5,039,615 | |
GE Healthcare Technologies, Inc. | 12,826 | 999,402 | |
Hologic, Inc. (a) | 189,759 | 14,089,606 | |
IDEXX Laboratories, Inc. (a) | 4 | 1,949 | |
Lantheus Holdings, Inc. (a) | 44,268 | 3,554,278 | |
Solventum Corp. | 44,294 | 2,342,267 | |
38,564,724 | |||
Health Care Providers & Services - 3.1% | |||
Cencora, Inc. | 7,689 | 1,732,332 | |
Centene Corp. (a) | 156,456 | 10,373,033 | |
Cigna Group | 60,899 | 20,131,382 | |
Elevance Health, Inc. | 42,083 | 22,803,094 | |
UnitedHealth Group, Inc. | 65,627 | 33,421,206 | |
88,461,047 | |||
Life Sciences Tools & Services - 0.4% | |||
Medpace Holdings, Inc. (a) | 7,432 | 3,060,869 | |
Thermo Fisher Scientific, Inc. | 16,378 | 9,057,034 | |
12,117,903 | |||
Pharmaceuticals - 4.2% | |||
Bristol-Myers Squibb Co. | 472,194 | 19,610,217 | |
Eli Lilly & Co. | 32,483 | 29,409,459 | |
Jazz Pharmaceuticals PLC (a) | 5,346 | 570,579 | |
Johnson & Johnson | 94,830 | 13,860,353 | |
Merck & Co., Inc. | 271,813 | 33,650,449 | |
Pfizer, Inc. | 875,884 | 24,507,234 | |
121,608,291 | |||
TOTAL HEALTH CARE | 362,675,917 | ||
INDUSTRIALS - 9.9% | |||
Aerospace & Defense - 1.8% | |||
Howmet Aerospace, Inc. | 81,844 | 6,353,550 | |
Lockheed Martin Corp. | 45,131 | 21,080,690 | |
Northrop Grumman Corp. | 24,594 | 10,721,754 | |
Textron, Inc. | 169,592 | 14,561,169 | |
52,717,163 | |||
Building Products - 0.4% | |||
Owens Corning | 68,576 | 11,913,023 | |
Commercial Services & Supplies - 1.7% | |||
Cintas Corp. | 27,426 | 19,205,331 | |
Republic Services, Inc. | 56,545 | 10,988,955 | |
Waste Management, Inc. | 91,938 | 19,614,053 | |
49,808,339 | |||
Construction & Engineering - 0.0% | |||
EMCOR Group, Inc. | 1,847 | 674,303 | |
Electrical Equipment - 1.2% | |||
AMETEK, Inc. | 38,667 | 6,446,176 | |
Eaton Corp. PLC | 29,087 | 9,120,229 | |
Emerson Electric Co. | 167,244 | 18,423,599 | |
EnerSys | 7,339 | 759,733 | |
34,749,737 | |||
Ground Transportation - 2.5% | |||
CSX Corp. | 523,309 | 17,504,686 | |
Norfolk Southern Corp. | 22,519 | 4,834,604 | |
Old Dominion Freight Lines, Inc. | 26,953 | 4,759,900 | |
Uber Technologies, Inc. (a) | 312,936 | 22,744,188 | |
Union Pacific Corp. | 102,824 | 23,264,958 | |
73,108,336 | |||
Industrial Conglomerates - 0.0% | |||
3M Co. | 118 | 12,058 | |
Machinery - 1.3% | |||
Caterpillar, Inc. | 72,534 | 24,161,075 | |
Deere & Co. | 5 | 1,868 | |
PACCAR, Inc. | 144,761 | 14,901,697 | |
39,064,640 | |||
Passenger Airlines - 0.1% | |||
SkyWest, Inc. (a) | 18,029 | 1,479,640 | |
United Airlines Holdings, Inc. (a) | 49 | 2,384 | |
1,482,024 | |||
Professional Services - 0.9% | |||
CACI International, Inc. (a) | 14,057 | 6,046,337 | |
Leidos Holdings, Inc. | 35,360 | 5,158,317 | |
SS&C Technologies Holdings, Inc. | 218,940 | 13,720,970 | |
24,925,624 | |||
Trading Companies & Distributors - 0.0% | |||
W.W. Grainger, Inc. | 2 | 1,804 | |
TOTAL INDUSTRIALS | 288,457,051 | ||
INFORMATION TECHNOLOGY - 31.6% | |||
Communications Equipment - 0.2% | |||
Arista Networks, Inc. (a) | 17,306 | 6,065,407 | |
Cisco Systems, Inc. | 28,802 | 1,368,383 | |
7,433,790 | |||
Electronic Equipment, Instruments & Components - 0.2% | |||
Trimble, Inc. (a) | 111,052 | 6,210,028 | |
IT Services - 0.2% | |||
Squarespace, Inc. Class A (a) | 20 | 873 | |
Twilio, Inc. Class A (a) | 98,575 | 5,600,046 | |
Wix.com Ltd. (a) | 492 | 78,262 | |
5,679,181 | |||
Semiconductors & Semiconductor Equipment - 12.4% | |||
Advanced Micro Devices, Inc. (a) | 9,845 | 1,596,957 | |
Applied Materials, Inc. | 118,075 | 27,864,519 | |
Broadcom, Inc. | 36,691 | 58,908,501 | |
Cirrus Logic, Inc. (a) | 54,956 | 7,015,683 | |
Intel Corp. | 628,007 | 19,449,377 | |
KLA Corp. | 10,831 | 8,930,268 | |
Lam Research Corp. | 111 | 118,198 | |
Micron Technology, Inc. | 17,752 | 2,334,921 | |
NVIDIA Corp. | 1,668,399 | 206,114,010 | |
Qualcomm, Inc. | 143,267 | 28,535,921 | |
360,868,355 | |||
Software - 11.4% | |||
Adobe, Inc. (a) | 56,548 | 31,414,676 | |
Alarm.com Holdings, Inc. (a) | 29,793 | 1,893,047 | |
Cadence Design Systems, Inc. (a) | 8 | 2,462 | |
DocuSign, Inc. (a) | 138,619 | 7,416,117 | |
Dropbox, Inc. Class A (a) | 686,426 | 15,423,992 | |
Gen Digital, Inc. | 85,041 | 2,124,324 | |
GitLab, Inc. (a) | 133,568 | 6,641,001 | |
Manhattan Associates, Inc. (a) | 9,851 | 2,430,045 | |
Microsoft Corp. | 434,729 | 194,302,127 | |
Pegasystems, Inc. | 99,894 | 6,046,584 | |
RingCentral, Inc. (a) | 52,261 | 1,473,760 | |
Salesforce, Inc. | 120,302 | 30,929,644 | |
Smartsheet, Inc. (a) | 69,988 | 3,085,071 | |
Teradata Corp. (a) | 412,883 | 14,269,236 | |
Zoom Video Communications, Inc. Class A (a) | 250,798 | 14,844,734 | |
332,296,820 | |||
Technology Hardware, Storage & Peripherals - 7.2% | |||
Apple, Inc. | 977,850 | 205,954,767 | |
NetApp, Inc. | 19,623 | 2,527,442 | |
208,482,209 | |||
TOTAL INFORMATION TECHNOLOGY | 920,970,383 | ||
MATERIALS - 2.4% | |||
Chemicals - 1.0% | |||
Eastman Chemical Co. | 162 | 15,871 | |
Ecolab, Inc. | 76,666 | 18,246,508 | |
Linde PLC | 32 | 14,042 | |
Olin Corp. | 48,089 | 2,267,396 | |
Sherwin-Williams Co. | 27,844 | 8,309,485 | |
28,853,302 | |||
Construction Materials - 0.5% | |||
Vulcan Materials Co. | 56,419 | 14,030,277 | |
Metals & Mining - 0.9% | |||
Nucor Corp. | 90,629 | 14,326,632 | |
Steel Dynamics, Inc. | 91,960 | 11,908,820 | |
26,235,452 | |||
Paper & Forest Products - 0.0% | |||
Louisiana-Pacific Corp. | 2,130 | 175,363 | |
TOTAL MATERIALS | 69,294,394 | ||
REAL ESTATE - 0.9% | |||
Equity Real Estate Investment Trusts (REITs) - 0.9% | |||
Crown Castle, Inc. | 151,892 | 14,839,848 | |
Federal Realty Investment Trust (SBI) | 18 | 1,817 | |
Invitation Homes, Inc. | 219,561 | 7,880,044 | |
Public Storage Operating Co. | 8,194 | 2,357,004 | |
25,078,713 | |||
UTILITIES - 1.2% | |||
Electric Utilities - 1.0% | |||
Evergy, Inc. | 32,655 | 1,729,735 | |
NextEra Energy, Inc. | 289,521 | 20,500,982 | |
Otter Tail Corp. | 15,584 | 1,365,003 | |
Xcel Energy, Inc. | 86,129 | 4,600,150 | |
28,195,870 | |||
Gas Utilities - 0.0% | |||
UGI Corp. | 12 | 275 | |
Independent Power and Renewable Electricity Producers - 0.2% | |||
The AES Corp. | 228,208 | 4,009,615 | |
Vistra Corp. | 36,454 | 3,134,315 | |
7,143,930 | |||
Multi-Utilities - 0.0% | |||
Black Hills Corp. | 32 | 1,740 | |
TOTAL UTILITIES | 35,341,815 | ||
TOTAL COMMON STOCKS (Cost $2,114,284,029) | 2,883,656,252 | ||
U.S. Treasury Obligations - 0.1% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.3% to 5.32% 9/5/24 to 9/19/24 (d) (Cost $3,165,631) | 3,200,000 | 3,165,752 | |
Money Market Funds - 0.8% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (e) | 23,486,799 | 23,491,496 | |
Fidelity Securities Lending Cash Central Fund 5.38% (e)(f) | 562,444 | 562,500 | |
TOTAL MONEY MARKET FUNDS (Cost $24,053,996) | 24,053,996 | ||
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $2,141,503,656) | 2,910,876,000 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | 358,375 |
NET ASSETS - 100.0% | 2,911,234,375 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 85 | Sep 2024 | 23,466,375 | 74,839 | 74,839 |
The notional amount of futures purchased as a percentage of Net Assets is 0.8% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,062,545. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 70,527,060 | 760,032,872 | 807,068,414 | 1,189,983 | (22) | - | 23,491,496 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.38% | 1,387,050 | 26,365,179 | 27,189,729 | 818 | - | - | 562,500 | 0.0% |
Total | 71,914,110 | 786,398,051 | 834,258,143 | 1,190,801 | (22) | - | 24,053,996 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 329,535,342 | 329,535,342 | - | - |
Consumer Discretionary | 282,175,108 | 282,175,108 | - | - |
Consumer Staples | 125,786,044 | 125,786,044 | - | - |
Energy | 88,462,663 | 88,462,663 | - | - |
Financials | 355,878,822 | 355,878,822 | - | - |
Health Care | 362,675,917 | 362,675,917 | - | - |
Industrials | 288,457,051 | 288,457,051 | - | - |
Information Technology | 920,970,383 | 920,970,383 | - | - |
Materials | 69,294,394 | 69,294,394 | - | - |
Real Estate | 25,078,713 | 25,078,713 | - | - |
Utilities | 35,341,815 | 35,341,815 | - | - |
U.S. Government and Government Agency Obligations | 3,165,752 | - | 3,165,752 | - |
Money Market Funds | 24,053,996 | 24,053,996 | - | - |
Total Investments in Securities: | 2,910,876,000 | 2,907,710,248 | 3,165,752 | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 74,839 | 74,839 | - | - |
Total Assets | 74,839 | 74,839 | - | - |
Total Derivative Instruments: | 74,839 | 74,839 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 74,839 | 0 |
Total Equity Risk | 74,839 | 0 |
Total Value of Derivatives | 74,839 | 0 |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $542,250) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,117,449,660) | $ | 2,886,822,004 | ||
Fidelity Central Funds (cost $24,053,996) | 24,053,996 | |||
Total Investment in Securities (cost $2,141,503,656) | $ | 2,910,876,000 | ||
Cash | 1,022,818 | |||
Receivable for fund shares sold | 24,454,961 | |||
Dividends receivable | 761,166 | |||
Distributions receivable from Fidelity Central Funds | 136,277 | |||
Receivable from investment adviser for expense reductions | 63,754 | |||
Other receivables | 11,194 | |||
Total assets | 2,937,326,170 | |||
Liabilities | ||||
Payable for investments purchased | $ | 24,884,729 | ||
Accrued management fee | 418,037 | |||
Payable for daily variation margin on futures contracts | 107,865 | |||
Other payables and accrued expenses | 118,664 | |||
Collateral on securities loaned | 562,500 | |||
Total liabilities | 26,091,795 | |||
Net Assets | $ | 2,911,234,375 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,206,109,165 | ||
Total accumulated earnings (loss) | 705,125,210 | |||
Net Assets | $ | 2,911,234,375 | ||
Net Asset Value, offering price and redemption price per share ($2,911,234,375 ÷ 95,235,453 shares) | $ | 30.57 |
Statement of Operations | ||||||
Ten months ended June 30, 2024 | Year ended August 31, 2023 | |||||
Investment Income | ||||||
Dividends | $ | 25,072,989 | 31,203,225 | |||
Interest | 113,042 | 62,568 | ||||
Income from Fidelity Central Funds (including $818 and $43,997 from security lending) | 1,190,801 | 1,229,150 | ||||
Total income | 26,376,832 | 32,494,943 | ||||
Expenses | ||||||
Management fee | $ | 4,204,212 | 7,651,709 | |||
Independent trustees' fees and expenses | 8,431 | 10,392 | ||||
Interest | 3,088 | 27,922 | ||||
Miscellaneous | 141,577 | - | ||||
Total expenses before reductions | 4,357,308 | 7,690,023 | ||||
Expense reductions | (63,917) | (2,087) | ||||
Total expenses after reductions | 4,293,391 | 7,687,936 | ||||
Net Investment income (loss) | 22,083,441 | 24,807,007 | ||||
Realized and Unrealized Gain (Loss) | ||||||
Net realized gain (loss) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | (20,970,330) | (34,334,099) | ||||
Redemptions in-kind | 224,859,103 | 23,998,066 | ||||
Fidelity Central Funds | (22) | 35 | ||||
Futures contracts | 5,141,713 | 6,711,576 | ||||
Total net realized gain (loss) | 209,030,464 | (3,624,422) | ||||
Change in net unrealized appreciation (depreciation) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | 247,270,049 | 223,701,589 | ||||
Fidelity Central Funds | - | (35) | ||||
Futures contracts | (435,610) | (443,168) | ||||
Total change in net unrealized appreciation (depreciation) | 246,834,439 | 223,258,386 | ||||
Net gain (loss) | 455,864,903 | 219,633,964 | ||||
Net increase (decrease) in net assets resulting from operations | $ | 477,948,344 | 244,440,971 |
See Organization and Merger information note regarding reorganization from mutual fund to exchange traded fund.
Statement of Changes in Net Assets | ||||||
Ten months ended June 30, 2024 | Year ended August 31, 2023 | Year ended August 31, 2022 | ||||
Increase (Decrease) in Net Assets | ||||||
Operations | ||||||
Net investment income (loss) | $ | 22,083,441 | $ | 24,807,007 | $ | 19,467,302 |
Net realized gain (loss) | 209,030,464 | (3,624,422) | 12,825,524 | |||
Change in net unrealized appreciation (depreciation) | 246,834,439 | 223,258,386 | (204,549,067) | |||
Net increase (decrease) in net assets resulting from operations | 477,948,344 | 244,440,971 | (172,256,241) | |||
Distributions to shareholders | (35,565,387) | (22,292,999) | (204,215,644) | |||
Share transactions | ||||||
Proceeds from sales of shares | 1,442,966,046 | 629,039,473 | 1,542,789,506 | |||
Reinvestment of distributions | 16,466,045 | 18,530,259 | 176,281,500 | |||
Cost of shares redeemed | (1,038,895,541) | (1,283,514,169) | (389,268,600) | |||
Net increase (decrease) in net assets resulting from share transactions | 420,536,550 | (635,944,437) | 1,329,802,406 | |||
Total increase (decrease) in net assets | 862,919,507 | (413,796,465) | 953,330,521 | |||
Net Assets | ||||||
Beginning of period | 2,048,314,868 | 2,462,111,333 | 1,508,780,812 | |||
End of period | $ | 2,911,234,375 | $ | 2,048,314,868 | $ | 2,462,111,333 |
Other Information | ||||||
Shares | ||||||
Sold | 50,966,892 | 27,859,340 | 66,890,566 | |||
Issued in reinvestment of distributions | 676,837 | 875,246 | 7,072,033 | |||
Redeemed | (38,273,623) | (58,631,055) | (16,300,102) | |||
Net increase (decrease) | 13,370,106 | (29,896,469) | 57,662,497 | |||
Fidelity® Enhanced Large Cap Core ETF |
Years ended June 30, | 2024 A,B | 2023 B,C | 2022 B,C | 2021 B,C | 2020 B,C | 2019 B,C | ||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 25.02 | $ | 22.03 | $ | 27.89 | $ | 21.60 | $ | 18.13 | $ | 19.34 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) D,E | .27 | .29 | .29 | .26 | .29 | .32 | ||||||
Net realized and unrealized gain (loss) | 5.71 | 2.96 | (2.48) | 6.55 | 3.64 | (.32) | ||||||
Total from investment operations | 5.98 | 3.25 | (2.19) | 6.81 | 3.93 | - | ||||||
Distributions from net investment income | (.43) | (.18) | (.43) | (.26) | (.31) | (.29) | ||||||
Distributions from net realized gain | - | (.10) | (3.24) | (.26) | (.15) | (.93) | ||||||
Total distributions | (.43) | (.26) F | (3.67) | (.52) | (.46) | (1.21) F | ||||||
Net asset value, end of period | $ | 30.57 | $ | 25.02 | $ | 22.03 | $ | 27.89 | $ | 21.60 | $ | 18.13 |
Total Return G,H,I | 24.20 % | 15.01% | (9.41)% | 32.14% | 21.97% | .65% | ||||||
Ratios to Average Net Assets E,J,K | ||||||||||||
Expenses before reductions | .24% L,M | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of fee waivers, if any | .23 % L,M | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of all reductions | .23% L,M | .39% | .39% | .39% | .39% | .39% | ||||||
Net investment income (loss) | 1.20% L,M | 1.26% | 1.18% | 1.09% | 1.49% | 1.81% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 2,911,234 | $ | 2,048,315 | $ | 2,462,111 | $ | 1,508,781 | $ | 1,087,245 | $ | 834,635 |
Portfolio turnover rate N | 58 % L,O | 105% | 104% | 83% | 63% | 77% |
Common Stocks - 99.4% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 13.4% | |||
Entertainment - 1.5% | |||
Netflix, Inc. (a) | 59,693 | 40,285,612 | |
Interactive Media & Services - 11.9% | |||
Alphabet, Inc.: | |||
Class A | 558,114 | 101,660,465 | |
Class C | 543,657 | 99,717,567 | |
Meta Platforms, Inc. Class A | 233,052 | 117,509,479 | |
318,887,511 | |||
TOTAL COMMUNICATION SERVICES | 359,173,123 | ||
CONSUMER DISCRETIONARY - 13.3% | |||
Automobiles - 1.4% | |||
Tesla, Inc. (a) | 182,707 | 36,154,061 | |
Broadline Retail - 6.0% | |||
Amazon.com, Inc. (a) | 839,337 | 162,201,875 | |
Dillard's, Inc. Class A | 2 | 881 | |
eBay, Inc. | 30 | 1,612 | |
162,204,368 | |||
Distributors - 0.0% | |||
Genuine Parts Co. | 12 | 1,660 | |
Hotels, Restaurants & Leisure - 2.3% | |||
Airbnb, Inc. Class A (a) | 62,169 | 9,426,685 | |
Booking Holdings, Inc. | 6,692 | 26,510,358 | |
Chipotle Mexican Grill, Inc. (a) | 328,716 | 20,594,057 | |
Draftkings Holdings, Inc. (a) | 101,882 | 3,888,836 | |
60,419,936 | |||
Household Durables - 0.0% | |||
TopBuild Corp. (a) | 1,705 | 656,885 | |
Specialty Retail - 3.6% | |||
Abercrombie & Fitch Co. Class A (a) | 76,874 | 13,671,272 | |
Carvana Co. Class A (a) | 102,902 | 13,245,545 | |
Ross Stores, Inc. | 113,382 | 16,476,672 | |
The Home Depot, Inc. | 125,218 | 43,105,044 | |
Ulta Beauty, Inc. (a) | 27,434 | 10,585,958 | |
97,084,491 | |||
TOTAL CONSUMER DISCRETIONARY | 356,521,401 | ||
CONSUMER STAPLES - 1.6% | |||
Beverages - 0.2% | |||
Boston Beer Co., Inc. Class A (a) | 9,466 | 2,887,603 | |
Celsius Holdings, Inc. (a) | 9,491 | 541,841 | |
PepsiCo, Inc. | 13,413 | 2,212,206 | |
The Coca-Cola Co. | 12 | 764 | |
5,642,414 | |||
Consumer Staples Distribution & Retail - 1.4% | |||
Costco Wholesale Corp. | 29,279 | 24,886,857 | |
Kroger Co. | 233,470 | 11,657,157 | |
Maplebear, Inc. (NASDAQ) | 45,929 | 1,476,158 | |
Sysco Corp. | 21 | 1,499 | |
38,021,671 | |||
TOTAL CONSUMER STAPLES | 43,664,085 | ||
ENERGY - 1.1% | |||
Oil, Gas & Consumable Fuels - 1.1% | |||
Cheniere Energy, Inc. | 101,510 | 17,746,993 | |
EOG Resources, Inc. | 90,103 | 11,341,265 | |
Hess Corp. | 3 | 443 | |
29,088,701 | |||
FINANCIALS - 5.9% | |||
Banks - 0.1% | |||
Nu Holdings Ltd. Class A (a) | 227,003 | 2,926,069 | |
Capital Markets - 0.6% | |||
MSCI, Inc. | 31,214 | 15,037,345 | |
Tradeweb Markets, Inc. Class A | 9,167 | 971,702 | |
16,009,047 | |||
Consumer Finance - 0.6% | |||
American Express Co. | 71,671 | 16,595,420 | |
Financial Services - 3.3% | |||
MasterCard, Inc. Class A | 107,382 | 47,372,643 | |
PayPal Holdings, Inc. (a) | 174,771 | 10,141,961 | |
Toast, Inc. (a)(b) | 151,386 | 3,901,217 | |
Visa, Inc. Class A | 101,538 | 26,650,679 | |
88,066,500 | |||
Insurance - 1.3% | |||
Aon PLC | 44,952 | 13,197,008 | |
Brown & Brown, Inc. | 17,505 | 1,565,122 | |
Progressive Corp. | 104,311 | 21,666,438 | |
36,428,568 | |||
TOTAL FINANCIALS | 160,025,604 | ||
HEALTH CARE - 7.9% | |||
Biotechnology - 2.5% | |||
AbbVie, Inc. | 170,698 | 29,278,121 | |
Exelixis, Inc. (a) | 630,901 | 14,176,345 | |
Gilead Sciences, Inc. | 179,207 | 12,295,392 | |
Incyte Corp. (a) | 88,553 | 5,368,083 | |
Neurocrine Biosciences, Inc. (a) | 32,810 | 4,516,953 | |
65,634,894 | |||
Health Care Equipment & Supplies - 0.3% | |||
DexCom, Inc. (a) | 62,426 | 7,077,860 | |
Intuitive Surgical, Inc. (a) | 921 | 409,707 | |
7,487,567 | |||
Health Care Providers & Services - 0.8% | |||
Cigna Group | 21,739 | 7,186,261 | |
Elevance Health, Inc. | 26,842 | 14,544,606 | |
UnitedHealth Group, Inc. | 352 | 179,260 | |
21,910,127 | |||
Health Care Technology - 0.4% | |||
Veeva Systems, Inc. Class A (a) | 58,213 | 10,653,561 | |
Life Sciences Tools & Services - 0.5% | |||
Medpace Holdings, Inc. (a) | 34,873 | 14,362,445 | |
Pharmaceuticals - 3.4% | |||
Bristol-Myers Squibb Co. | 313,286 | 13,010,768 | |
Eli Lilly & Co. | 66,762 | 60,444,980 | |
Jazz Pharmaceuticals PLC (a) | 1,462 | 156,039 | |
Merck & Co., Inc. | 142,094 | 17,591,237 | |
91,203,024 | |||
TOTAL HEALTH CARE | 211,251,618 | ||
INDUSTRIALS - 5.4% | |||
Aerospace & Defense - 1.1% | |||
Howmet Aerospace, Inc. | 167,679 | 13,016,921 | |
Lockheed Martin Corp. | 38,409 | 17,940,844 | |
30,957,765 | |||
Commercial Services & Supplies - 0.8% | |||
Cintas Corp. | 2,670 | 1,869,694 | |
MSA Safety, Inc. | 6,410 | 1,203,093 | |
Waste Management, Inc. | 82,729 | 17,649,405 | |
20,722,192 | |||
Construction & Engineering - 0.0% | |||
AECOM | 9 | 793 | |
Ground Transportation - 1.9% | |||
CSX Corp. | 117,449 | 3,928,669 | |
Uber Technologies, Inc. (a) | 378,916 | 27,539,615 | |
Union Pacific Corp. | 83,691 | 18,935,926 | |
50,404,210 | |||
Machinery - 0.7% | |||
Caterpillar, Inc. | 56,209 | 18,723,218 | |
Illinois Tool Works, Inc. | 2,057 | 487,427 | |
19,210,645 | |||
Professional Services - 0.9% | |||
Leidos Holdings, Inc. | 50,078 | 7,305,379 | |
Verisk Analytics, Inc. | 63,206 | 17,037,177 | |
24,342,556 | |||
TOTAL INDUSTRIALS | 145,638,161 | ||
INFORMATION TECHNOLOGY - 49.0% | |||
Electronic Equipment, Instruments & Components - 0.1% | |||
Trimble, Inc. (a) | 34,510 | 1,929,799 | |
IT Services - 0.2% | |||
Accenture PLC Class A | 15,230 | 4,620,934 | |
Semiconductors & Semiconductor Equipment - 18.4% | |||
Advanced Micro Devices, Inc. (a) | 3,855 | 625,320 | |
Applied Materials, Inc. | 126,122 | 29,763,531 | |
Broadcom, Inc. | 48,914 | 78,532,894 | |
KLA Corp. | 30,365 | 25,036,246 | |
Lam Research Corp. | 14,070 | 14,982,440 | |
Monolithic Power Systems, Inc. | 14,626 | 12,017,892 | |
NVIDIA Corp. | 2,445,470 | 302,113,364 | |
Qualcomm, Inc. | 158,433 | 31,556,685 | |
494,628,372 | |||
Software - 18.5% | |||
Adobe, Inc. (a) | 70,409 | 39,115,016 | |
AppLovin Corp. Class A, (a) | 150,931 | 12,560,478 | |
Atlassian Corp. PLC Class A, (a) | 8,542 | 1,510,909 | |
Crowdstrike Holdings, Inc. (a) | 39,090 | 14,978,897 | |
DocuSign, Inc. (a) | 268,319 | 14,355,067 | |
Dropbox, Inc. Class A (a) | 657,356 | 14,770,789 | |
Intuit, Inc. | 3,192 | 2,097,814 | |
Manhattan Associates, Inc. (a) | 62,980 | 15,535,906 | |
Microsoft Corp. | 701,827 | 313,681,579 | |
Oracle Corp. | 40,711 | 5,748,393 | |
Pegasystems, Inc. | 38,748 | 2,345,416 | |
Qualys, Inc. (a) | 3 | 428 | |
Salesforce, Inc. | 120,061 | 30,867,683 | |
SentinelOne, Inc. (a) | 231,542 | 4,873,959 | |
ServiceNow, Inc. (a) | 2,079 | 1,635,487 | |
Teradata Corp. (a) | 359,418 | 12,421,486 | |
Zoom Video Communications, Inc. Class A (a) | 210,663 | 12,469,143 | |
498,968,450 | |||
Technology Hardware, Storage & Peripherals - 11.8% | |||
Apple, Inc. | 1,432,310 | 301,673,132 | |
Super Micro Computer, Inc. (a) | 19,540 | 16,010,099 | |
317,683,231 | |||
TOTAL INFORMATION TECHNOLOGY | 1,317,830,786 | ||
MATERIALS - 1.3% | |||
Chemicals - 0.6% | |||
Ecolab, Inc. | 71,182 | 16,941,316 | |
Metals & Mining - 0.7% | |||
Nucor Corp. | 83,537 | 13,205,529 | |
Southern Copper Corp. (b) | 37,120 | 3,999,309 | |
17,204,838 | |||
TOTAL MATERIALS | 34,146,154 | ||
UTILITIES - 0.5% | |||
Independent Power and Renewable Electricity Producers - 0.5% | |||
Vistra Corp. | 158,081 | 13,591,804 | |
TOTAL COMMON STOCKS (Cost $1,404,262,735) | 2,670,931,437 | ||
U.S. Treasury Obligations - 0.1% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.3% to 5.33% 7/18/24 to 9/12/24 (d) (Cost $3,085,644) | 3,100,000 | 3,085,688 | |
Money Market Funds - 1.9% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (e) | 45,126,288 | 45,135,313 | |
Fidelity Securities Lending Cash Central Fund 5.38% (e)(f) | 5,210,854 | 5,211,375 | |
TOTAL MONEY MARKET FUNDS (Cost $50,346,688) | 50,346,688 | ||
TOTAL INVESTMENT IN SECURITIES - 101.4% (Cost $1,457,695,067) | 2,724,363,813 |
NET OTHER ASSETS (LIABILITIES) - (1.4)% | (37,458,610) |
NET ASSETS - 100.0% | 2,686,905,203 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 40 | Sep 2024 | 11,043,000 | 35,219 | 35,219 |
The notional amount of futures purchased as a percentage of Net Assets is 0.4% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,914,739. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 80,138 | 777,807,931 | 732,752,792 | 619,486 | 36 | - | 45,135,313 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.38% | 6,142,650 | 35,032,030 | 35,963,305 | 1,078 | - | - | 5,211,375 | 0.0% |
Total | 6,222,788 | 812,839,961 | 768,716,097 | 620,564 | 36 | - | 50,346,688 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 359,173,123 | 359,173,123 | - | - |
Consumer Discretionary | 356,521,401 | 356,521,401 | - | - |
Consumer Staples | 43,664,085 | 43,664,085 | - | - |
Energy | 29,088,701 | 29,088,701 | - | - |
Financials | 160,025,604 | 160,025,604 | - | - |
Health Care | 211,251,618 | 211,251,618 | - | - |
Industrials | 145,638,161 | 145,638,161 | - | - |
Information Technology | 1,317,830,786 | 1,317,830,786 | - | - |
Materials | 34,146,154 | 34,146,154 | - | - |
Utilities | 13,591,804 | 13,591,804 | - | - |
U.S. Government and Government Agency Obligations | 3,085,688 | - | 3,085,688 | - |
Money Market Funds | 50,346,688 | 50,346,688 | - | - |
Total Investments in Securities: | 2,724,363,813 | 2,721,278,125 | 3,085,688 | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 35,219 | 35,219 | - | - |
Total Assets | 35,219 | 35,219 | - | - |
Total Derivative Instruments: | 35,219 | 35,219 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 35,219 | 0 |
Total Equity Risk | 35,219 | 0 |
Total Value of Derivatives | 35,219 | 0 |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $5,108,793) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,407,348,379) | $ | 2,674,017,125 | ||
Fidelity Central Funds (cost $50,346,688) | 50,346,688 | |||
Total Investment in Securities (cost $1,457,695,067) | $ | 2,724,363,813 | ||
Receivable for investments sold | 73,713,224 | |||
Receivable for fund shares sold | 12,907,347 | |||
Dividends receivable | 290,167 | |||
Distributions receivable from Fidelity Central Funds | 123,239 | |||
Receivable from investment adviser for expense reductions | 26,209 | |||
Total assets | 2,811,423,999 | |||
Liabilities | ||||
Payable for investments purchased | $ | 92,933,843 | ||
Payable for fund shares redeemed | 25,814,694 | |||
Accrued management fee | 394,853 | |||
Payable for daily variation margin on futures contracts | 83,216 | |||
Other payables and accrued expenses | 80,815 | |||
Collateral on securities loaned | 5,211,375 | |||
Total liabilities | 124,518,796 | |||
Net Assets | $ | 2,686,905,203 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,422,414,082 | ||
Total accumulated earnings (loss) | 1,264,491,121 | |||
Net Assets | $ | 2,686,905,203 | ||
Net Asset Value, offering price and redemption price per share ($2,686,905,203 ÷ 83,318,998 shares) | $ | 32.25 |
Statement of Operations | ||||||
Ten months ended June 30, 2024 | Year ended August 31, 2023 | |||||
Investment Income | ||||||
Dividends | $ | 15,140,478 | 20,177,977 | |||
Interest | 93,808 | 93,311 | ||||
Income from Fidelity Central Funds (including $1,078 and $2,853 from security lending) | 620,564 | 2,054,934 | ||||
Total income | 15,854,850 | 22,326,222 | ||||
Expenses | ||||||
Management fee | $ | 4,395,441 | 7,896,319 | |||
Independent trustees' fees and expenses | 9,124 | 10,270 | ||||
Interest | 19,184 | 41,394 | ||||
Miscellaneous | 113,164 | 35,374 | ||||
Total expenses before reductions | 4,536,913 | 7,983,357 | ||||
Expense reductions | (26,573) | (2,918) | ||||
Total expenses after reductions | 4,510,340 | 7,980,439 | ||||
Net Investment income (loss) | 11,344,510 | 14,345,783 | ||||
Realized and Unrealized Gain (Loss) | ||||||
Net realized gain (loss) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | 1,295,100 | 29,491,248 | ||||
Redemptions in-kind | 253,118,501 | 14,287,867 | ||||
Fidelity Central Funds | 36 | - | ||||
Foreign currency transactions | (628) | - | ||||
Futures contracts | 6,155,143 | 2,639,291 | ||||
Total net realized gain (loss) | 260,568,152 | 46,418,406 | ||||
Change in net unrealized appreciation (depreciation) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | 368,557,596 | 358,359,152 | ||||
Futures contracts | 35,009 | 380,401 | ||||
Total change in net unrealized appreciation (depreciation) | 368,592,605 | 358,739,553 | ||||
Net gain (loss) | 629,160,757 | 405,157,959 | ||||
Net increase (decrease) in net assets resulting from operations | $ | 640,505,267 | 419,503,742 |
See Organization and Merger information note regarding reorganization from mutual fund to exchange traded fund.
Statement of Changes in Net Assets | ||||||
Ten months ended June 30, 2024 | Year ended August 31, 2023 | Year ended August 31, 2022 | ||||
Increase (Decrease) in Net Assets | ||||||
Operations | ||||||
Net investment income (loss) | $ | 11,344,510 | $ | 14,345,783 | $ | 8,691,799 |
Net realized gain (loss) | 260,568,152 | 46,418,406 | (8,165,601) | |||
Change in net unrealized appreciation (depreciation) | 368,592,605 | 358,739,553 | (299,422,252) | |||
Net increase (decrease) in net assets resulting from operations | 640,505,267 | 419,503,742 | (298,896,054) | |||
Distributions to shareholders | (21,679,293) | (10,050,462) | (234,756,175) | |||
Share transactions | ||||||
Proceeds from sales of shares | 1,183,970,024 | 1,206,466,982 | 431,325,162 | |||
Reinvestment of distributions | 11,773,276 | 8,894,596 | 220,826,073 | |||
Cost of shares redeemed | (1,496,108,622) | (882,002,420) | (277,612,906) | |||
Net increase (decrease) in net assets resulting from share transactions | (300,365,322) | 333,359,158 | 374,538,329 | |||
Total increase (decrease) in net assets | 318,460,652 | 742,812,438 | (159,113,900) | |||
Net Assets | ||||||
Beginning of period | 2,368,444,551 | 1,625,632,113 | 1,784,746,013 | |||
End of period | $ | 2,686,905,203 | $ | 2,368,444,551 | $ | 1,625,632,113 |
Other Information | ||||||
Shares | ||||||
Sold | 41,974,709 | 56,403,387 | 19,038,860 | |||
Issued in reinvestment of distributions | 488,957 | 467,755 | 8,757,552 | |||
Redeemed | (55,500,883) | (39,305,302) | (11,711,412) | |||
Net increase (decrease) | (13,037,217) | 17,565,840 | 16,085,000 | |||
Fidelity® Enhanced Large Cap Growth ETF |
Years ended June 30, | 2024 A,B | 2023 B,C | 2022 B,C | 2021 B,C | 2020 B,C | 2019 B,C | ||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 24.58 | $ | 20.64 | $ | 28.47 | $ | 23.10 | $ | 16.82 | $ | 17.94 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) D,E | .14 | .15 | .12 | .12 | .13 | .17 | ||||||
Net realized and unrealized gain (loss) | 7.78 | 3.91 | (4.19) | 6.34 | 6.72 | (.13) | ||||||
Total from investment operations | 7.92 | 4.06 | (4.07) | 6.46 | 6.85 | .04 | ||||||
Distributions from net investment income | (.24) | (.12) | (.12) | (.13) | (.15) | (.20) | ||||||
Distributions from net realized gain | (.01) | - | (3.64) | (.96) | (.42) | (.96) | ||||||
Total distributions | (.25) | (.12) | (3.76) | (1.09) | (.57) | (1.16) | ||||||
Net asset value, end of period | $ | 32.25 | $ | 24.58 | $ | 20.64 | $ | 28.47 | $ | 23.10 | $ | 16.82 |
Total Return F,G,H | 32.45 % | 19.85% | (16.70)% | 29.08% | 41.73% | 1.28% | ||||||
Ratios to Average Net Assets E,I,J | ||||||||||||
Expenses before reductions | .24% K,L | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of fee waivers, if any | .24 % K,L | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of all reductions | .24% K,L | .39% | .39% | .39% | .39% | .39% | ||||||
Net investment income (loss) | .60% K,L | .71% | .52% | .47% | .74% | 1.07% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 2,686,905 | $ | 2,368,445 | $ | 1,625,632 | $ | 1,784,746 | $ | 1,417,537 | $ | 1,106,497 |
Portfolio turnover rate M | 58 % K,N | 108% | 101% | 84% | 69% | 85% |
Common Stocks - 99.3% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 4.5% | |||
Diversified Telecommunication Services - 1.8% | |||
AT&T, Inc. | 922,537 | 17,629,682 | |
Verizon Communications, Inc. | 371,660 | 15,327,258 | |
32,956,940 | |||
Entertainment - 1.5% | |||
Electronic Arts, Inc. | 38,869 | 5,415,618 | |
Netflix, Inc. (a) | 4,446 | 3,000,516 | |
Playtika Holding Corp. | 126,786 | 997,806 | |
Spotify Technology SA (a) | 11,227 | 3,522,920 | |
The Walt Disney Co. | 140,405 | 13,940,812 | |
26,877,672 | |||
Interactive Media & Services - 0.3% | |||
Alphabet, Inc.: | |||
Class A | 758 | 138,070 | |
Class C | 2,685 | 492,483 | |
Meta Platforms, Inc. Class A | 7,477 | 3,770,053 | |
4,400,606 | |||
Media - 0.9% | |||
Comcast Corp. Class A | 399,899 | 15,660,045 | |
TOTAL COMMUNICATION SERVICES | 79,895,263 | ||
CONSUMER DISCRETIONARY - 5.6% | |||
Automobile Components - 0.0% | |||
BorgWarner, Inc. | 12,278 | 395,843 | |
Automobiles - 0.6% | |||
Ford Motor Co. | 852,873 | 10,695,027 | |
Broadline Retail - 0.2% | |||
eBay, Inc. | 51,425 | 2,762,551 | |
Distributors - 0.1% | |||
Genuine Parts Co. | 19,172 | 2,651,871 | |
Diversified Consumer Services - 0.2% | |||
ADT, Inc. (b) | 577,961 | 4,392,504 | |
Hotels, Restaurants & Leisure - 2.0% | |||
Airbnb, Inc. Class A (a) | 8,163 | 1,237,756 | |
Chipotle Mexican Grill, Inc. (a) | 143,450 | 8,987,143 | |
International Game Technology PLC | 423,461 | 8,664,012 | |
Light & Wonder, Inc. Class A (a) | 36,376 | 3,815,115 | |
McDonald's Corp. | 31,943 | 8,140,354 | |
MGM Resorts International (a) | 74,580 | 3,314,335 | |
Norwegian Cruise Line Holdings Ltd. (a) | 50,153 | 942,375 | |
Wendy's Co. | 1,951 | 33,089 | |
35,134,179 | |||
Household Durables - 1.8% | |||
KB Home | 28,175 | 1,977,322 | |
Lennar Corp.: | |||
Class A | 44,577 | 6,680,755 | |
Class B | 1,241 | 173,033 | |
Taylor Morrison Home Corp. (a) | 70,722 | 3,920,828 | |
Toll Brothers, Inc. (b) | 70,795 | 8,154,168 | |
TopBuild Corp. (a) | 11,848 | 4,564,679 | |
TRI Pointe Homes, Inc. (a) | 128,006 | 4,768,224 | |
Whirlpool Corp. | 21,265 | 2,173,283 | |
32,412,292 | |||
Leisure Products - 0.0% | |||
Peloton Interactive, Inc. Class A (a)(b) | 227,129 | 767,696 | |
Specialty Retail - 0.6% | |||
Carvana Co. Class A (a) | 33,393 | 4,298,347 | |
Gap, Inc. | 123,551 | 2,951,633 | |
Lowe's Companies, Inc. | 3,544 | 781,310 | |
Petco Health & Wellness Co., Inc. Class A (a)(b) | 122,636 | 463,564 | |
Ross Stores, Inc. | 10,622 | 1,543,589 | |
The Home Depot, Inc. | 744 | 256,115 | |
Ulta Beauty, Inc. (a) | 141 | 54,408 | |
10,348,966 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Tapestry, Inc. | 34,062 | 1,457,513 | |
TOTAL CONSUMER DISCRETIONARY | 101,018,442 | ||
CONSUMER STAPLES - 7.4% | |||
Beverages - 1.2% | |||
Boston Beer Co., Inc. Class A (a) | 12,933 | 3,945,212 | |
Keurig Dr. Pepper, Inc. | 124,970 | 4,173,998 | |
Molson Coors Beverage Co. Class B | 48,040 | 2,441,873 | |
The Coca-Cola Co. | 167,146 | 10,638,843 | |
21,199,926 | |||
Consumer Staples Distribution & Retail - 2.0% | |||
Costco Wholesale Corp. | 1,118 | 950,289 | |
Kroger Co. | 105,289 | 5,257,080 | |
Walmart, Inc. | 438,443 | 29,686,976 | |
35,894,345 | |||
Food Products - 0.9% | |||
Archer Daniels Midland Co. | 67,982 | 4,109,512 | |
General Mills, Inc. | 38,104 | 2,410,459 | |
Kellanova | 33,042 | 1,905,863 | |
Post Holdings, Inc. (a) | 380 | 39,581 | |
Seaboard Corp. | 109 | 344,521 | |
The Kraft Heinz Co. | 210,790 | 6,791,654 | |
15,601,590 | |||
Household Products - 2.0% | |||
Colgate-Palmolive Co. | 77,106 | 7,482,366 | |
Kimberly-Clark Corp. | 18,580 | 2,567,756 | |
Procter & Gamble Co. | 148,777 | 24,536,303 | |
Spectrum Brands Holdings, Inc. | 9,516 | 817,710 | |
The Clorox Co. | 8,420 | 1,149,077 | |
36,553,212 | |||
Tobacco - 1.3% | |||
Altria Group, Inc. | 141,982 | 6,467,280 | |
Philip Morris International, Inc. | 157,949 | 16,004,972 | |
22,472,252 | |||
TOTAL CONSUMER STAPLES | 131,721,325 | ||
ENERGY - 6.7% | |||
Energy Equipment & Services - 0.6% | |||
Baker Hughes Co. Class A | 291,900 | 10,266,123 | |
Oil, Gas & Consumable Fuels - 6.1% | |||
California Resources Corp. (b) | 19,448 | 1,035,023 | |
Chevron Corp. | 84,694 | 13,247,835 | |
ConocoPhillips Co. | 167,341 | 19,140,464 | |
Coterra Energy, Inc. | 36,875 | 983,456 | |
Devon Energy Corp. | 40,412 | 1,915,529 | |
Diamondback Energy, Inc. | 16,338 | 3,270,704 | |
EOG Resources, Inc. | 87,313 | 10,990,087 | |
Exxon Mobil Corp. | 429,006 | 49,387,171 | |
Kinder Morgan, Inc. | 396,632 | 7,881,078 | |
Marathon Petroleum Corp. | 6,744 | 1,169,949 | |
Murphy Oil Corp. | 4,747 | 195,766 | |
Valero Energy Corp. | 2,835 | 444,415 | |
109,661,477 | |||
TOTAL ENERGY | 119,927,600 | ||
FINANCIALS - 22.3% | |||
Banks - 7.0% | |||
Bank of America Corp. | 768,923 | 30,580,068 | |
Citigroup, Inc. | 31,173 | 1,978,239 | |
Citizens Financial Group, Inc. | 153,892 | 5,544,729 | |
Columbia Banking Systems, Inc. | 140,746 | 2,799,438 | |
Commerce Bancshares, Inc. | 31,994 | 1,784,625 | |
First Horizon National Corp. | 39,727 | 626,495 | |
Hancock Whitney Corp. | 31,708 | 1,516,594 | |
JPMorgan Chase & Co. | 268,732 | 54,353,734 | |
KeyCorp | 183,291 | 2,604,565 | |
PNC Financial Services Group, Inc. | 30,935 | 4,809,774 | |
TFS Financial Corp. | 15 | 189 | |
Truist Financial Corp. | 102,308 | 3,974,666 | |
United Bankshares, Inc., West Virginia | 2 | 65 | |
Wells Fargo & Co. | 241,242 | 14,327,362 | |
Wintrust Financial Corp. | 6,281 | 619,055 | |
125,519,598 | |||
Capital Markets - 5.3% | |||
Bank of New York Mellon Corp. | 222,625 | 13,333,011 | |
BlackRock, Inc. | 3,699 | 2,912,297 | |
Charles Schwab Corp. | 63,407 | 4,672,462 | |
CME Group, Inc. | 51,150 | 10,056,090 | |
Coinbase Global, Inc. (a) | 13,660 | 3,035,662 | |
Goldman Sachs Group, Inc. | 39,552 | 17,890,161 | |
Intercontinental Exchange, Inc. | 23,358 | 3,197,477 | |
Morgan Stanley | 133,578 | 12,982,446 | |
NASDAQ, Inc. | 43,978 | 2,650,114 | |
Northern Trust Corp. | 5,463 | 458,783 | |
Raymond James Financial, Inc. | 28,281 | 3,495,814 | |
Robinhood Markets, Inc. (a) | 187,136 | 4,249,859 | |
S&P Global, Inc. | 17,037 | 7,598,502 | |
State Street Corp. | 13,840 | 1,024,160 | |
Stifel Financial Corp. | 68,494 | 5,763,770 | |
Tradeweb Markets, Inc. Class A | 16,533 | 1,752,498 | |
Virtu Financial, Inc. Class A | 37,705 | 846,477 | |
95,919,583 | |||
Consumer Finance - 1.4% | |||
American Express Co. | 61,802 | 14,310,253 | |
Capital One Financial Corp. | 51,309 | 7,103,731 | |
Discover Financial Services | 6,079 | 795,194 | |
Synchrony Financial | 65,201 | 3,076,835 | |
25,286,013 | |||
Financial Services - 4.6% | |||
Berkshire Hathaway, Inc. Class B (a) | 164,255 | 66,818,923 | |
Block, Inc. Class A (a) | 64,518 | 4,160,766 | |
Enact Holdings, Inc. | 8,261 | 253,282 | |
Euronet Worldwide, Inc. (a) | 9,590 | 992,565 | |
MasterCard, Inc. Class A | 18,684 | 8,242,633 | |
PayPal Holdings, Inc. (a) | 32,893 | 1,908,781 | |
82,376,950 | |||
Insurance - 4.0% | |||
Allstate Corp. | 33,920 | 5,415,667 | |
American Financial Group, Inc. | 2 | 246 | |
Aon PLC | 8,768 | 2,574,109 | |
Assurant, Inc. | 7,995 | 1,329,169 | |
Assured Guaranty Ltd. | 6,180 | 476,787 | |
Axis Capital Holdings Ltd. | 35,996 | 2,543,117 | |
Brown & Brown, Inc. | 1,256 | 112,299 | |
Chubb Ltd. | 32,007 | 8,164,346 | |
Cincinnati Financial Corp. | 36,682 | 4,332,144 | |
Globe Life, Inc. | 46,919 | 3,860,495 | |
Hartford Financial Services Group, Inc. | 11,648 | 1,171,090 | |
Loews Corp. | 82,098 | 6,136,005 | |
Marsh & McLennan Companies, Inc. | 18,787 | 3,958,797 | |
MetLife, Inc. | 85,243 | 5,983,206 | |
Progressive Corp. | 34,544 | 7,175,134 | |
Reinsurance Group of America, Inc. | 2,577 | 528,981 | |
The Travelers Companies, Inc. | 41,189 | 8,375,371 | |
Unum Group | 104,279 | 5,329,700 | |
Willis Towers Watson PLC | 14,313 | 3,752,010 | |
71,218,673 | |||
TOTAL FINANCIALS | 400,320,817 | ||
HEALTH CARE - 14.3% | |||
Biotechnology - 2.5% | |||
AbbVie, Inc. | 34,967 | 5,997,540 | |
Alkermes PLC (a)(b) | 98,669 | 2,377,923 | |
Amgen, Inc. | 5,698 | 1,780,340 | |
Biogen, Inc. (a) | 38,551 | 8,936,893 | |
BioMarin Pharmaceutical, Inc. (a) | 34,244 | 2,819,309 | |
Gilead Sciences, Inc. | 240,193 | 16,479,642 | |
Grail, Inc. | 1,184 | 18,198 | |
Incyte Corp. (a) | 116,054 | 7,035,193 | |
45,445,038 | |||
Health Care Equipment & Supplies - 3.1% | |||
Abbott Laboratories | 54,560 | 5,669,330 | |
Baxter International, Inc. | 66,246 | 2,215,929 | |
Becton, Dickinson & Co. | 36,453 | 8,519,431 | |
Boston Scientific Corp. (a) | 53,342 | 4,107,867 | |
Edwards Lifesciences Corp. (a) | 45,696 | 4,220,940 | |
GE Healthcare Technologies, Inc. | 37,779 | 2,943,740 | |
Hologic, Inc. (a) | 72,359 | 5,372,656 | |
Insulet Corp. (a) | 4 | 807 | |
Integra LifeSciences Holdings Corp. (a) | 56,510 | 1,646,701 | |
Medtronic PLC | 90,585 | 7,129,945 | |
Solventum Corp. | 34,498 | 1,824,254 | |
Stryker Corp. | 13,236 | 4,503,549 | |
Zimmer Biomet Holdings, Inc. | 65,956 | 7,158,205 | |
55,313,354 | |||
Health Care Providers & Services - 4.0% | |||
Cencora, Inc. | 2,937 | 661,706 | |
Centene Corp. (a) | 102,227 | 6,777,650 | |
Cigna Group | 37,357 | 12,349,103 | |
CVS Health Corp. | 68,928 | 4,070,888 | |
Elevance Health, Inc. | 31,726 | 17,191,050 | |
Guardant Health, Inc. (a) | 20,455 | 590,740 | |
Humana, Inc. | 1,970 | 736,091 | |
McKesson Corp. | 9,536 | 5,569,405 | |
UnitedHealth Group, Inc. | 45,658 | 23,251,793 | |
71,198,426 | |||
Health Care Technology - 0.1% | |||
Teladoc Health, Inc. (a)(b) | 144,212 | 1,410,393 | |
Life Sciences Tools & Services - 0.8% | |||
Bio-Rad Laboratories, Inc. Class A (a) | 8,640 | 2,359,670 | |
Danaher Corp. | 18,203 | 4,548,020 | |
Illumina, Inc. (a) | 7,104 | 741,516 | |
Thermo Fisher Scientific, Inc. | 13,174 | 7,285,222 | |
14,934,428 | |||
Pharmaceuticals - 3.8% | |||
Bristol-Myers Squibb Co. | 385,664 | 16,016,626 | |
Elanco Animal Health, Inc. (a) | 51,802 | 747,503 | |
Johnson & Johnson | 149,542 | 21,857,059 | |
Merck & Co., Inc. | 75,156 | 9,304,313 | |
Organon & Co. | 31,260 | 647,082 | |
Pfizer, Inc. | 722,266 | 20,209,003 | |
68,781,586 | |||
TOTAL HEALTH CARE | 257,083,225 | ||
INDUSTRIALS - 16.3% | |||
Aerospace & Defense - 3.4% | |||
Curtiss-Wright Corp. | 1,014 | 274,774 | |
General Dynamics Corp. | 16,151 | 4,686,051 | |
General Electric Co. | 82,087 | 13,049,370 | |
Hexcel Corp. | 9,583 | 598,458 | |
L3Harris Technologies, Inc. | 33,419 | 7,505,239 | |
Lockheed Martin Corp. | 14,909 | 6,963,994 | |
Northrop Grumman Corp. | 20,003 | 8,720,308 | |
RTX Corp. | 75,165 | 7,545,814 | |
Textron, Inc. | 76,629 | 6,579,366 | |
Woodward, Inc. | 24,842 | 4,331,948 | |
60,255,322 | |||
Building Products - 0.8% | |||
A.O. Smith Corp. | 2,725 | 222,851 | |
Builders FirstSource, Inc. (a) | 5,391 | 746,168 | |
Owens Corning | 44,185 | 7,675,818 | |
Trane Technologies PLC | 15,544 | 5,112,888 | |
13,757,725 | |||
Commercial Services & Supplies - 2.0% | |||
Cintas Corp. | 14,048 | 9,837,252 | |
MSA Safety, Inc. | 12,025 | 2,256,972 | |
Republic Services, Inc. | 64,286 | 12,493,341 | |
Tetra Tech, Inc. (b) | 16,617 | 3,397,844 | |
Veralto Corp. | 8,461 | 807,772 | |
Vestis Corp. | 179,459 | 2,194,784 | |
Waste Management, Inc. | 22,684 | 4,839,405 | |
35,827,370 | |||
Construction & Engineering - 0.1% | |||
Valmont Industries, Inc. | 10,036 | 2,754,380 | |
Electrical Equipment - 2.1% | |||
AMETEK, Inc. | 30,354 | 5,060,315 | |
Eaton Corp. PLC | 45,810 | 14,363,726 | |
Emerson Electric Co. | 133,623 | 14,719,910 | |
EnerSys | 10,500 | 1,086,960 | |
GE Vernova LLC | 17,349 | 2,975,527 | |
38,206,438 | |||
Ground Transportation - 1.8% | |||
CSX Corp. | 204,329 | 6,834,805 | |
Norfolk Southern Corp. | 43,613 | 9,363,275 | |
Union Pacific Corp. | 68,227 | 15,437,041 | |
31,635,121 | |||
Industrial Conglomerates - 0.8% | |||
3M Co. | 92,221 | 9,424,064 | |
Honeywell International, Inc. | 25,924 | 5,535,811 | |
14,959,875 | |||
Machinery - 2.9% | |||
AGCO Corp. | 20,163 | 1,973,554 | |
Caterpillar, Inc. | 5,078 | 1,691,482 | |
CNH Industrial NV | 144,523 | 1,464,018 | |
Cummins, Inc. | 37,574 | 10,405,368 | |
Donaldson Co., Inc. | 19,375 | 1,386,475 | |
Flowserve Corp. | 74,582 | 3,587,394 | |
Fortive Corp. | 18,936 | 1,403,158 | |
Gates Industrial Corp. PLC (a) | 37,600 | 594,456 | |
Illinois Tool Works, Inc. | 11,717 | 2,776,460 | |
ITT, Inc. | 23,776 | 3,071,384 | |
Oshkosh Corp. | 47,810 | 5,173,042 | |
PACCAR, Inc. | 69,984 | 7,204,153 | |
Westinghouse Air Brake Tech Co. | 70,054 | 11,072,035 | |
51,802,979 | |||
Marine Transportation - 0.1% | |||
Kirby Corp. (a) | 1,620 | 193,963 | |
Matson, Inc. | 8,842 | 1,158,037 | |
1,352,000 | |||
Passenger Airlines - 0.1% | |||
SkyWest, Inc. (a) | 16,037 | 1,316,157 | |
United Airlines Holdings, Inc. (a) | 27,341 | 1,330,413 | |
2,646,570 | |||
Professional Services - 2.1% | |||
Automatic Data Processing, Inc. | 7,013 | 1,673,933 | |
Booz Allen Hamilton Holding Corp. Class A | 14,200 | 2,185,380 | |
CACI International, Inc. (a) | 24,084 | 10,359,251 | |
Leidos Holdings, Inc. | 62,506 | 9,118,375 | |
SS&C Technologies Holdings, Inc. | 158,304 | 9,920,912 | |
Verisk Analytics, Inc. | 14,218 | 3,832,462 | |
37,090,313 | |||
Trading Companies & Distributors - 0.1% | |||
Applied Industrial Technologies, Inc. | 1,199 | 232,606 | |
Boise Cascade Co. (b) | 7,223 | 861,126 | |
1,093,732 | |||
TOTAL INDUSTRIALS | 291,381,825 | ||
INFORMATION TECHNOLOGY - 10.8% | |||
Communications Equipment - 0.5% | |||
Cisco Systems, Inc. | 179,323 | 8,519,636 | |
Extreme Networks, Inc. (a) | 82,024 | 1,103,223 | |
9,622,859 | |||
Electronic Equipment, Instruments & Components - 0.8% | |||
Avnet, Inc. | 20,313 | 1,045,916 | |
Belden, Inc. | 12,348 | 1,158,242 | |
Itron, Inc. (a)(b) | 13,021 | 1,288,558 | |
TD SYNNEX Corp. | 24,684 | 2,848,534 | |
Trimble, Inc. (a) | 124,763 | 6,976,747 | |
13,317,997 | |||
IT Services - 1.1% | |||
Accenture PLC Class A | 18,852 | 5,719,885 | |
IBM Corp. | 28,075 | 4,855,571 | |
Kyndryl Holdings, Inc. (a) | 64,050 | 1,685,156 | |
Okta, Inc. (a) | 6,321 | 591,709 | |
Twilio, Inc. Class A (a) | 129,476 | 7,355,532 | |
20,207,853 | |||
Semiconductors & Semiconductor Equipment - 4.7% | |||
Advanced Micro Devices, Inc. (a) | 22,577 | 3,662,215 | |
Analog Devices, Inc. | 3,430 | 782,932 | |
Applied Materials, Inc. | 43,165 | 10,186,508 | |
Broadcom, Inc. | 1,555 | 2,496,599 | |
Cirrus Logic, Inc. (a) | 36,603 | 4,672,739 | |
Intel Corp. | 640,929 | 19,849,571 | |
Micron Technology, Inc. | 122,456 | 16,106,638 | |
NVIDIA Corp. | 64,354 | 7,950,293 | |
Qorvo, Inc. (a) | 40,404 | 4,688,480 | |
Qualcomm, Inc. | 54,799 | 10,914,865 | |
Texas Instruments, Inc. | 15,485 | 3,012,297 | |
84,323,137 | |||
Software - 2.9% | |||
Adobe, Inc. (a) | 16,971 | 9,428,069 | |
ANSYS, Inc. (a) | 1,173 | 377,120 | |
DocuSign, Inc. (a) | 77,877 | 4,166,420 | |
Dropbox, Inc. Class A (a) | 428,899 | 9,637,361 | |
MicroStrategy, Inc. Class A (a) | 543 | 747,972 | |
NCR Voyix Corp. (a) | 18,277 | 225,721 | |
Oracle Corp. | 48,197 | 6,805,416 | |
Pegasystems, Inc. | 20,020 | 1,211,811 | |
Salesforce, Inc. | 18,371 | 4,723,184 | |
SolarWinds, Inc. | 27,372 | 329,833 | |
Teradata Corp. (a) | 205,937 | 7,117,183 | |
Workday, Inc. Class A (a) | 4,626 | 1,034,189 | |
Zoom Video Communications, Inc. Class A (a) | 99,445 | 5,886,150 | |
51,690,429 | |||
Technology Hardware, Storage & Peripherals - 0.8% | |||
Hewlett Packard Enterprise Co. | 303,300 | 6,420,861 | |
NetApp, Inc. | 19,802 | 2,550,498 | |
Western Digital Corp. (a) | 73,526 | 5,571,065 | |
14,542,424 | |||
TOTAL INFORMATION TECHNOLOGY | 193,704,699 | ||
MATERIALS - 4.4% | |||
Chemicals - 2.1% | |||
Corteva, Inc. | 102,897 | 5,550,264 | |
DuPont de Nemours, Inc. | 116,555 | 9,381,512 | |
Eastman Chemical Co. | 28,110 | 2,753,937 | |
Ecolab, Inc. | 43,297 | 10,304,686 | |
Linde PLC | 20,617 | 9,046,946 | |
37,037,345 | |||
Construction Materials - 0.6% | |||
Vulcan Materials Co. | 41,295 | 10,269,241 | |
Containers & Packaging - 0.4% | |||
Ardagh Metal Packaging SA (b) | 98,967 | 336,488 | |
Crown Holdings, Inc. | 23,639 | 1,758,505 | |
Sealed Air Corp. | 142,668 | 4,963,420 | |
7,058,413 | |||
Metals & Mining - 1.0% | |||
Hecla Mining Co. | 26,413 | 128,103 | |
Newmont Corp. | 63,914 | 2,676,079 | |
Nucor Corp. | 59,950 | 9,476,896 | |
Steel Dynamics, Inc. | 46,534 | 6,026,153 | |
Worthington Steel, Inc. | 13,910 | 464,038 | |
18,771,269 | |||
Paper & Forest Products - 0.3% | |||
Louisiana-Pacific Corp. | 63,494 | 5,227,461 | |
TOTAL MATERIALS | 78,363,729 | ||
REAL ESTATE - 3.0% | |||
Equity Real Estate Investment Trusts (REITs) - 2.8% | |||
American Homes 4 Rent Class A | 60,363 | 2,243,089 | |
Brixmor Property Group, Inc. | 21,856 | 504,655 | |
Cousins Properties, Inc. | 49 | 1,134 | |
Crown Castle, Inc. | 121,829 | 11,902,693 | |
EPR Properties | 8,078 | 339,114 | |
First Industrial Realty Trust, Inc. | 46,319 | 2,200,616 | |
Gaming & Leisure Properties | 20,229 | 914,553 | |
Healthpeak Properties, Inc. | 132,695 | 2,600,822 | |
Invitation Homes, Inc. | 310,756 | 11,153,033 | |
Park Hotels & Resorts, Inc. | 39,015 | 584,445 | |
Public Storage Operating Co. | 37,381 | 10,752,645 | |
STAG Industrial, Inc. | 14,745 | 531,705 | |
UDR, Inc. | 54,934 | 2,260,534 | |
VICI Properties, Inc. | 154,041 | 4,411,734 | |
50,400,772 | |||
Real Estate Management & Development - 0.2% | |||
Zillow Group, Inc.: | |||
Class A (a) | 36,261 | 1,633,195 | |
Class C (a) | 52,929 | 2,455,376 | |
4,088,571 | |||
TOTAL REAL ESTATE | 54,489,343 | ||
UTILITIES - 4.0% | |||
Electric Utilities - 2.6% | |||
Constellation Energy Corp. | 24,237 | 4,853,944 | |
Duke Energy Corp. | 5,553 | 556,577 | |
Edison International | 35,002 | 2,513,494 | |
Entergy Corp. | 8,110 | 867,770 | |
Evergy, Inc. | 85,880 | 4,549,064 | |
Eversource Energy | 42,633 | 2,417,717 | |
Exelon Corp. | 241,654 | 8,363,645 | |
NextEra Energy, Inc. | 183,508 | 12,994,201 | |
Otter Tail Corp. (b) | 6,390 | 559,700 | |
PG&E Corp. | 213,173 | 3,722,001 | |
Southern Co. | 10,089 | 782,604 | |
Xcel Energy, Inc. | 72,899 | 3,893,536 | |
46,074,253 | |||
Gas Utilities - 0.3% | |||
New Jersey Resources Corp. | 31,855 | 1,361,483 | |
UGI Corp. | 154,452 | 3,536,951 | |
4,898,434 | |||
Independent Power and Renewable Electricity Producers - 0.5% | |||
Brookfield Renewable Corp. | 8,197 | 232,631 | |
Clearway Energy, Inc.: | |||
Class A | 14,502 | 328,615 | |
Class C | 55,126 | 1,361,061 | |
The AES Corp. | 336,528 | 5,912,797 | |
Vistra Corp. | 21,566 | 1,854,245 | |
9,689,349 | |||
Multi-Utilities - 0.6% | |||
Black Hills Corp. | 31,493 | 1,712,589 | |
CenterPoint Energy, Inc. | 167,029 | 5,174,558 | |
DTE Energy Co. | 14,714 | 1,633,401 | |
Public Service Enterprise Group, Inc. | 33,112 | 2,440,354 | |
10,960,902 | |||
TOTAL UTILITIES | 71,622,938 | ||
TOTAL COMMON STOCKS (Cost $1,630,328,700) | 1,779,529,206 | ||
U.S. Treasury Obligations - 0.1% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.3% to 5.33% 7/18/24 to 9/26/24 (d) (Cost $1,810,891) | 1,820,000 | 1,810,891 | |
Money Market Funds - 2.9% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (e) | 43,109,975 | 43,118,597 | |
Fidelity Securities Lending Cash Central Fund 5.38% (e)(f) | 9,989,303 | 9,990,301 | |
TOTAL MONEY MARKET FUNDS (Cost $53,108,898) | 53,108,898 | ||
TOTAL INVESTMENT IN SECURITIES - 102.3% (Cost $1,685,248,489) | 1,834,448,995 |
NET OTHER ASSETS (LIABILITIES) - (2.3)% | (41,932,060) |
NET ASSETS - 100.0% | 1,792,516,935 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 30 | Sep 2024 | 8,282,250 | 26,414 | 26,414 |
The notional amount of futures purchased as a percentage of Net Assets is 0.5% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,810,891. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 155,216,114 | 892,164,357 | 1,004,261,860 | 1,267,323 | (14) | - | 43,118,597 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.38% | 13,096,389 | 168,382,274 | 171,488,362 | 10,325 | - | - | 9,990,301 | 0.0% |
Total | 168,312,503 | 1,060,546,631 | 1,175,750,222 | 1,277,648 | (14) | - | 53,108,898 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 79,895,263 | 79,895,263 | - | - |
Consumer Discretionary | 101,018,442 | 101,018,442 | - | - |
Consumer Staples | 131,721,325 | 131,721,325 | - | - |
Energy | 119,927,600 | 119,927,600 | - | - |
Financials | 400,320,817 | 400,320,817 | - | - |
Health Care | 257,083,225 | 257,083,225 | - | - |
Industrials | 291,381,825 | 291,381,825 | - | - |
Information Technology | 193,704,699 | 193,704,699 | - | - |
Materials | 78,363,729 | 78,363,729 | - | - |
Real Estate | 54,489,343 | 54,489,343 | - | - |
Utilities | 71,622,938 | 71,622,938 | - | - |
U.S. Government and Government Agency Obligations | 1,810,891 | - | 1,810,891 | - |
Money Market Funds | 53,108,898 | 53,108,898 | - | - |
Total Investments in Securities: | 1,834,448,995 | 1,832,638,104 | 1,810,891 | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 26,414 | 26,414 | - | - |
Total Assets | 26,414 | 26,414 | - | - |
Total Derivative Instruments: | 26,414 | 26,414 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 26,414 | 0 |
Total Equity Risk | 26,414 | 0 |
Total Value of Derivatives | 26,414 | 0 |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $9,518,253) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,632,139,591) | $ | 1,781,340,097 | ||
Fidelity Central Funds (cost $53,108,898) | 53,108,898 | |||
Total Investment in Securities (cost $1,685,248,489) | $ | 1,834,448,995 | ||
Cash | 33,398 | |||
Receivable for investments sold | 34,914,040 | |||
Dividends receivable | 1,495,678 | |||
Distributions receivable from Fidelity Central Funds | 68,603 | |||
Receivable from investment adviser for expense reductions | 25,566 | |||
Other receivables | 225,715 | |||
Total assets | 1,871,211,995 | |||
Liabilities | ||||
Payable for investments purchased | $ | 36,880,466 | ||
Payable for fund shares redeemed | 31,401,465 | |||
Accrued management fee | 269,530 | |||
Payable for daily variation margin on futures contracts | 75,380 | |||
Other payables and accrued expenses | 80,919 | |||
Collateral on securities loaned | 9,987,300 | |||
Total liabilities | 78,695,060 | |||
Net Assets | $ | 1,792,516,935 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,709,855,020 | ||
Total accumulated earnings (loss) | 82,661,915 | |||
Net Assets | $ | 1,792,516,935 | ||
Net Asset Value, offering price and redemption price per share ($1,792,516,935 ÷ 62,778,976 shares) | $ | 28.55 |
Statement of Operations | ||||||
Ten months ended June 30, 2024 | Year ended August 31, 2023 | |||||
Investment Income | ||||||
Dividends | $ | 43,442,662 | 123,931,441 | |||
Interest | 100,421 | 78,834 | ||||
Income from Fidelity Central Funds (including $10,325 and $193,813 from security lending) | 1,277,648 | 1,871,666 | ||||
Total income | 44,820,731 | 125,881,941 | ||||
Expenses | ||||||
Management fee | $ | 5,908,652 | 21,604,951 | |||
Independent trustees' fees and expenses | 13,181 | 30,662 | ||||
Interest | 4,057 | 29,724 | ||||
Miscellaneous | 108,229 | - | ||||
Total expenses before reductions | 6,034,119 | 21,665,337 | ||||
Expense reductions | (40,328) | (1,773) | ||||
Total expenses after reductions | 5,993,791 | 21,663,564 | ||||
Net Investment income (loss) | 38,826,940 | 104,218,377 | ||||
Realized and Unrealized Gain (Loss) | ||||||
Net realized gain (loss) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | (43,602,963) | 87,781,805 | ||||
Redemptions in-kind | 499,548,049 | 117,706,408 | ||||
Fidelity Central Funds | (14) | - | ||||
Foreign currency transactions | 2,399 | - | ||||
Futures contracts | (2,545,317) | 3,530,011 | ||||
Total net realized gain (loss) | 453,402,154 | 209,018,224 | ||||
Change in net unrealized appreciation (depreciation) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | (574,137,118) | 129,900,340 | ||||
Assets and liabilities in foreign currencies | 908 | - | ||||
Futures contracts | (514,287) | 513,598 | ||||
Total change in net unrealized appreciation (depreciation) | (574,650,497) | 130,413,938 | ||||
Net gain (loss) | (121,248,343) | 339,432,162 | ||||
Net increase (decrease) in net assets resulting from operations | $ | (82,421,403) | 443,650,539 |
See Organization and Merger information note regarding reorganization from mutual fund to exchange traded fund.
Statement of Changes in Net Assets | ||||||
Ten months ended June 30, 2024 | Year ended August 31, 2023 | Year ended August 31, 2022 | ||||
Increase (Decrease) in Net Assets | ||||||
Operations | ||||||
Net investment income (loss) | $ | 38,826,940 | $ | 104,218,377 | $ | 109,310,484 |
Net realized gain (loss) | 453,402,154 | 209,018,224 | 269,166,406 | |||
Change in net unrealized appreciation (depreciation) | (574,650,497) | 130,413,938 | (702,930,899) | |||
Net increase (decrease) in net assets resulting from operations | (82,421,403) | 443,650,539 | (324,454,009) | |||
Distributions to shareholders | (175,458,721) | (257,200,574) | (697,082,541) | |||
Share transactions | ||||||
Proceeds from sales of shares | 996,838,223 | 817,757,697 | 1,055,115,905 | |||
Reinvestment of distributions | 143,727,046 | 243,302,994 | 669,849,842 | |||
Cost of shares redeemed | (4,621,932,538) | (1,407,138,550) | (1,199,545,360) | |||
Net increase (decrease) in net assets resulting from share transactions | (3,481,367,269) | (346,077,859) | 525,420,387 | |||
Total increase (decrease) in net assets | (3,739,247,393) | (159,627,894) | (496,116,163) | |||
Net Assets | ||||||
Beginning of period | 5,531,764,328 | 5,691,392,222 | 6,187,508,385 | |||
End of period | $ | 1,792,516,935 | $ | 5,531,764,328 | $ | 5,691,392,222 |
Other Information | ||||||
Shares | ||||||
Sold | 38,559,161 | 32,117,183 | 38,780,477 | |||
Issued in reinvestment of distributions | 5,858,095 | 9,686,875 | 24,600,837 | |||
Redeemed | (192,077,486) | (55,489,324) | (44,365,352) | |||
Net increase (decrease) | (147,660,230) | (13,685,266) | 19,015,962 | |||
Fidelity® Enhanced Large Cap Value ETF |
Years ended June 30, | 2024 A,B | 2023 A,C | 2022 A,C | 2021 A,C | 2020 A,C | 2019 A,C | ||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 26.29 | $ | 25.40 | $ | 30.16 | $ | 22.04 | $ | 22.36 | $ | 24.10 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) D,E | .40 | .47 | .49 | .44 | .49 | .52 | ||||||
Net realized and unrealized gain (loss) | 2.99 F | 1.59 | (1.81) | 8.08 | - | (.80) | ||||||
Total from investment operations | 3.39 | 2.06 | (1.32) | 8.52 | .49 | (.28) | ||||||
Distributions from net investment income | (.80) | (.38) | (.58) | (.40) | (.51) | (.54) | ||||||
Distributions from net realized gain | (.33) | (.79) | (2.86) | - | (.30) | (.94) | ||||||
Total distributions | (1.13) | (1.17) | (3.44) | (.40) | (.81) | (1.46) G | ||||||
Net asset value, end of period | $ | 28.55 | $ | 26.29 | $ | 25.40 | $ | 30.16 | $ | 22.04 | $ | 22.36 |
Total Return H,I,J | 13.49 % | 8.30% | (5.18)% | 39.12% | 1.95% | (.77)% | ||||||
Ratios to Average Net Assets E,K,L | ||||||||||||
Expenses before reductions | .28% M,N | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of fee waivers, if any | .28 % M,N | .39% | .39% | .39% | .39% | .39% | ||||||
Expenses net of all reductions | .28% M,N | .39% | .39% | .39% | .39% | .39% | ||||||
Net investment income (loss) | 1.82% M,N | 1.88% | 1.76% | 1.65% | 2.21% | 2.37% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,792,517 | $ | 5,531,764 | $ | 5,691,392 | $ | 6,187,508 | $ | 3,887,139 | $ | 3,757,353 |
Portfolio turnover rate O | 90 % M,P | 88% | 112% | 75% | 81% | 94% |
Common Stocks - 99.2% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 2.4% | |||
Entertainment - 2.2% | |||
Electronic Arts, Inc. | 92,415 | 12,876,182 | |
Playtika Holding Corp. | 666,450 | 5,244,962 | |
Roku, Inc. Class A (a) | 157,491 | 9,438,436 | |
Spotify Technology SA (a) | 28,573 | 8,965,922 | |
36,525,502 | |||
Media - 0.2% | |||
The New York Times Co. Class A | 66,127 | 3,386,364 | |
TOTAL COMMUNICATION SERVICES | 39,911,866 | ||
CONSUMER DISCRETIONARY - 12.1% | |||
Automobiles - 0.5% | |||
Ford Motor Co. | 673,078 | 8,440,398 | |
Broadline Retail - 0.6% | |||
eBay, Inc. | 182,112 | 9,783,057 | |
Distributors - 0.1% | |||
Genuine Parts Co. | 18,179 | 2,514,519 | |
Diversified Consumer Services - 0.4% | |||
ADT, Inc. | 498,888 | 3,791,549 | |
H&R Block, Inc. | 50,373 | 2,731,728 | |
6,523,277 | |||
Hotels, Restaurants & Leisure - 3.1% | |||
Airbnb, Inc. Class A (a) | 13,773 | 2,088,400 | |
Chipotle Mexican Grill, Inc. (a) | 139,889 | 8,764,046 | |
Domino's Pizza, Inc. | 4,380 | 2,261,525 | |
Doordash, Inc. (a) | 81,440 | 8,859,043 | |
Draftkings Holdings, Inc. (a) | 255,188 | 9,740,526 | |
Expedia Group, Inc. (a) | 14,028 | 1,767,388 | |
International Game Technology PLC | 259,404 | 5,307,406 | |
Light & Wonder, Inc. Class A (a) | 29,637 | 3,108,329 | |
Royal Caribbean Cruises Ltd. (a) | 28,806 | 4,592,541 | |
Texas Roadhouse, Inc. | 6,224 | 1,068,723 | |
Travel+Leisure Co. | 21,939 | 986,816 | |
Wendy's Co. (b) | 134,207 | 2,276,151 | |
50,820,894 | |||
Household Durables - 3.1% | |||
D.R. Horton, Inc. | 99,338 | 13,999,704 | |
Lennar Corp. Class A | 33,203 | 4,976,134 | |
NVR, Inc. (a) | 1,548 | 11,747,091 | |
Toll Brothers, Inc. | 84,306 | 9,710,365 | |
TopBuild Corp. (a) | 26,273 | 10,122,199 | |
50,555,493 | |||
Specialty Retail - 3.7% | |||
Abercrombie & Fitch Co. Class A (a) | 28,985 | 5,154,692 | |
Burlington Stores, Inc. (a) | 43,894 | 10,534,560 | |
Carvana Co. Class A (a) | 12,434 | 1,600,504 | |
GameStop Corp. Class A (a)(b) | 25,483 | 629,175 | |
Gap, Inc. | 370,949 | 8,861,972 | |
Ross Stores, Inc. | 107,922 | 15,683,225 | |
Ulta Beauty, Inc. (a) | 22,701 | 8,759,635 | |
Williams-Sonoma, Inc. | 38,116 | 10,762,815 | |
61,986,578 | |||
Textiles, Apparel & Luxury Goods - 0.6% | |||
Crocs, Inc. (a) | 4,952 | 722,695 | |
Tapestry, Inc. | 219,274 | 9,382,734 | |
10,105,429 | |||
TOTAL CONSUMER DISCRETIONARY | 200,729,645 | ||
CONSUMER STAPLES - 4.0% | |||
Beverages - 0.5% | |||
Boston Beer Co., Inc. Class A (a) | 22,926 | 6,993,576 | |
Celsius Holdings, Inc. (a) | 26,492 | 1,512,428 | |
8,506,004 | |||
Consumer Staples Distribution & Retail - 2.0% | |||
Casey's General Stores, Inc. | 29,131 | 11,115,224 | |
Kroger Co. | 244,123 | 12,189,061 | |
Maplebear, Inc. (NASDAQ) | 283,912 | 9,124,932 | |
32,429,217 | |||
Food Products - 0.3% | |||
Ingredion, Inc. | 25,572 | 2,933,108 | |
Seaboard Corp. | 555 | 1,754,211 | |
4,687,319 | |||
Household Products - 1.2% | |||
Colgate-Palmolive Co. | 90,625 | 8,794,250 | |
Kimberly-Clark Corp. | 37,382 | 5,166,192 | |
The Clorox Co. | 41,166 | 5,617,924 | |
19,578,366 | |||
TOTAL CONSUMER STAPLES | 65,200,906 | ||
ENERGY - 5.0% | |||
Energy Equipment & Services - 0.8% | |||
Baker Hughes Co. Class A | 133,888 | 4,708,841 | |
Halliburton Co. | 249,155 | 8,416,456 | |
13,125,297 | |||
Oil, Gas & Consumable Fuels - 4.2% | |||
Cheniere Energy, Inc. | 69,641 | 12,175,336 | |
Coterra Energy, Inc. | 176,851 | 4,716,616 | |
Devon Energy Corp. | 142,191 | 6,739,853 | |
Diamondback Energy, Inc. | 27,355 | 5,476,197 | |
Hess Corp. | 29,454 | 4,345,054 | |
Marathon Oil Corp. | 27,963 | 801,699 | |
Matador Resources Co. | 68,114 | 4,059,594 | |
Murphy Oil Corp. | 49,613 | 2,046,040 | |
ONEOK, Inc. | 23,157 | 1,888,453 | |
Ovintiv, Inc. | 9,404 | 440,765 | |
Phillips 66 Co. | 8 | 1,129 | |
Targa Resources Corp. | 103,394 | 13,315,079 | |
The Williams Companies, Inc. | 296,187 | 12,587,948 | |
68,593,763 | |||
TOTAL ENERGY | 81,719,060 | ||
FINANCIALS - 16.3% | |||
Banks - 1.8% | |||
Citizens Financial Group, Inc. | 305,102 | 10,992,825 | |
Columbia Banking Systems, Inc. | 123,841 | 2,463,197 | |
Commerce Bancshares, Inc. | 17,638 | 983,848 | |
First Citizens Bancshares, Inc. | 1,213 | 2,042,219 | |
KeyCorp | 657,960 | 9,349,612 | |
Zions Bancorporation NA | 110,076 | 4,773,996 | |
30,605,697 | |||
Capital Markets - 6.6% | |||
Ameriprise Financial, Inc. | 20,116 | 8,593,354 | |
Bank of New York Mellon Corp. | 263,487 | 15,780,236 | |
Cboe Global Markets, Inc. | 17 | 2,891 | |
Coinbase Global, Inc. (a) | 1,838 | 408,459 | |
Interactive Brokers Group, Inc. | 24,306 | 2,979,916 | |
Janus Henderson Group PLC | 29,189 | 983,961 | |
Jefferies Financial Group, Inc. | 4,605 | 229,145 | |
KKR & Co. LP | 29 | 3,052 | |
LPL Financial | 27,015 | 7,545,290 | |
Morningstar, Inc. | 5,792 | 1,713,563 | |
MSCI, Inc. | 2,626 | 1,265,076 | |
NASDAQ, Inc. | 177,407 | 10,690,546 | |
Northern Trust Corp. | 127,065 | 10,670,919 | |
Raymond James Financial, Inc. | 91,869 | 11,355,927 | |
Robinhood Markets, Inc. (a) | 476,433 | 10,819,793 | |
State Street Corp. | 91,052 | 6,737,848 | |
Stifel Financial Corp. | 72,020 | 6,060,483 | |
Tradeweb Markets, Inc. Class A | 98,850 | 10,478,100 | |
Virtu Financial, Inc. Class A | 79,281 | 1,779,858 | |
XP, Inc. Class A | 16,702 | 293,788 | |
108,392,205 | |||
Consumer Finance - 0.7% | |||
Discover Financial Services | 23,254 | 3,041,856 | |
Synchrony Financial | 166,419 | 7,853,313 | |
10,895,169 | |||
Financial Services - 3.1% | |||
Affirm Holdings, Inc. Class A, (a)(b) | 169,307 | 5,114,764 | |
Apollo Global Management, Inc. | 5 | 590 | |
Block, Inc. Class A (a) | 214,556 | 13,836,716 | |
Corpay, Inc. (a) | 16,431 | 4,377,383 | |
Euronet Worldwide, Inc. (a) | 26,523 | 2,745,131 | |
PayPal Holdings, Inc. (a) | 138,764 | 8,052,475 | |
The Western Union Co. | 594,259 | 7,261,845 | |
Toast, Inc. (a)(b) | 393,533 | 10,141,345 | |
WEX, Inc. (a) | 7 | 1,240 | |
51,531,489 | |||
Insurance - 4.1% | |||
Allstate Corp. | 37,048 | 5,915,084 | |
Arch Capital Group Ltd. (a) | 39,892 | 4,024,704 | |
Arthur J. Gallagher & Co. | 547 | 141,843 | |
Assurant, Inc. | 56,815 | 9,445,494 | |
Axis Capital Holdings Ltd. | 19,237 | 1,359,094 | |
Brown & Brown, Inc. | 132,905 | 11,883,036 | |
Everest Re Group Ltd. | 10,987 | 4,186,267 | |
Globe Life, Inc. | 113,506 | 9,339,274 | |
Reinsurance Group of America, Inc. | 38,640 | 7,931,633 | |
Unum Group | 161,828 | 8,271,029 | |
Willis Towers Watson PLC | 19,641 | 5,148,692 | |
67,646,150 | |||
TOTAL FINANCIALS | 269,070,710 | ||
HEALTH CARE - 9.9% | |||
Biotechnology - 2.7% | |||
Biogen, Inc. (a) | 3,391 | 786,102 | |
BioMarin Pharmaceutical, Inc. (a) | 3,171 | 261,068 | |
Exelixis, Inc. (a) | 426,152 | 9,575,635 | |
Gilead Sciences, Inc. | 128,777 | 8,835,390 | |
Incyte Corp. (a) | 174,281 | 10,564,914 | |
Neurocrine Biosciences, Inc. (a) | 76,072 | 10,472,832 | |
Sarepta Therapeutics, Inc. (a) | 7,699 | 1,216,442 | |
United Therapeutics Corp. (a) | 10,028 | 3,194,419 | |
44,906,802 | |||
Health Care Equipment & Supplies - 2.2% | |||
Abiomed, Inc. (a)(c) | 3,289 | 6,446 | |
DexCom, Inc. (a) | 75,137 | 8,519,033 | |
Hologic, Inc. (a) | 25,419 | 1,887,361 | |
IDEXX Laboratories, Inc. (a) | 26,772 | 13,043,318 | |
Novocure Ltd. (a) | 31,640 | 541,993 | |
Solventum Corp. | 94,371 | 4,990,338 | |
Zimmer Biomet Holdings, Inc. | 69,101 | 7,499,532 | |
36,488,021 | |||
Health Care Providers & Services - 2.0% | |||
Cardinal Health, Inc. | 102,034 | 10,031,983 | |
Cencora, Inc. | 60,788 | 13,695,536 | |
Centene Corp. (a) | 33,359 | 2,211,702 | |
Cigna Group | 6,124 | 2,024,411 | |
Elevance Health, Inc. | 8,008 | 4,339,215 | |
32,302,847 | |||
Health Care Technology - 0.6% | |||
Teladoc Health, Inc. (a) | 4,828 | 47,218 | |
Veeva Systems, Inc. Class A (a) | 57,622 | 10,545,402 | |
10,592,620 | |||
Life Sciences Tools & Services - 1.2% | |||
10X Genomics, Inc. (a) | 138,696 | 2,697,637 | |
Agilent Technologies, Inc. | 3,521 | 456,427 | |
Bruker Corp. | 102,134 | 6,517,171 | |
Medpace Holdings, Inc. (a) | 24,200 | 9,966,770 | |
19,638,005 | |||
Pharmaceuticals - 1.2% | |||
Bristol-Myers Squibb Co. | 81,079 | 3,367,211 | |
Elanco Animal Health, Inc. (a) | 535,380 | 7,725,533 | |
Jazz Pharmaceuticals PLC (a) | 85,604 | 9,136,515 | |
20,229,259 | |||
TOTAL HEALTH CARE | 164,157,554 | ||
INDUSTRIALS - 18.8% | |||
Aerospace & Defense - 2.7% | |||
Axon Enterprise, Inc. (a) | 8,214 | 2,416,887 | |
Curtiss-Wright Corp. | 21,246 | 5,757,241 | |
Hexcel Corp. | 47,432 | 2,962,128 | |
Howmet Aerospace, Inc. | 164,357 | 12,759,034 | |
Textron, Inc. | 122,938 | 10,555,457 | |
TransDigm Group, Inc. | 2 | 2,555 | |
Woodward, Inc. | 57,702 | 10,062,075 | |
44,515,377 | |||
Building Products - 1.8% | |||
Allegion PLC | 55,716 | 6,582,845 | |
Builders FirstSource, Inc. (a) | 21,433 | 2,966,542 | |
Carlisle Companies, Inc. | 2,012 | 815,283 | |
Carrier Global Corp. | 152 | 9,588 | |
Lennox International, Inc. | 595 | 318,313 | |
Owens Corning | 61,487 | 10,681,522 | |
Trane Technologies PLC | 27,031 | 8,891,307 | |
30,265,400 | |||
Commercial Services & Supplies - 1.2% | |||
Cintas Corp. | 12,669 | 8,871,594 | |
MSA Safety, Inc. | 8,226 | 1,543,938 | |
Republic Services, Inc. | 43,961 | 8,543,381 | |
Vestis Corp. | 107,524 | 1,315,019 | |
20,273,932 | |||
Construction & Engineering - 0.3% | |||
EMCOR Group, Inc. | 8,219 | 3,000,593 | |
Valmont Industries, Inc. | 6,845 | 1,878,610 | |
4,879,203 | |||
Electrical Equipment - 3.5% | |||
Acuity Brands, Inc. | 18,733 | 4,522,896 | |
AMETEK, Inc. | 84,025 | 14,007,808 | |
Emerson Electric Co. | 93 | 10,245 | |
Hubbell, Inc. | 25,577 | 9,347,882 | |
nVent Electric PLC | 132,689 | 10,165,304 | |
Rockwell Automation, Inc. | 39,613 | 10,904,667 | |
Vertiv Holdings Co. | 96,242 | 8,331,670 | |
57,290,472 | |||
Ground Transportation - 0.9% | |||
Old Dominion Freight Lines, Inc. | 55,780 | 9,850,748 | |
XPO, Inc. (a) | 52,000 | 5,519,800 | |
15,370,548 | |||
Machinery - 4.7% | |||
Allison Transmission Holdings, Inc. | 99,792 | 7,574,213 | |
Cummins, Inc. | 50,513 | 13,988,565 | |
Donaldson Co., Inc. | 132,980 | 9,516,049 | |
Flowserve Corp. | 67,516 | 3,247,520 | |
Fortive Corp. | 138,988 | 10,299,011 | |
Gates Industrial Corp. PLC (a) | 353,925 | 5,595,554 | |
ITT, Inc. | 15,107 | 1,951,522 | |
Oshkosh Corp. | 20,654 | 2,234,763 | |
PACCAR, Inc. | 86,678 | 8,922,633 | |
Parker Hannifin Corp. | 34 | 17,198 | |
Westinghouse Air Brake Tech Co. | 80,170 | 12,670,869 | |
Xylem, Inc. | 13,359 | 1,811,881 | |
77,829,778 | |||
Marine Transportation - 0.5% | |||
Kirby Corp. (a) | 67,892 | 8,128,709 | |
Professional Services - 2.6% | |||
Booz Allen Hamilton Holding Corp. Class A | 36,992 | 5,693,069 | |
CACI International, Inc. (a) | 24,065 | 10,351,078 | |
Leidos Holdings, Inc. | 77,316 | 11,278,858 | |
SS&C Technologies Holdings, Inc. | 167,595 | 10,503,179 | |
Verisk Analytics, Inc. | 18,440 | 4,970,502 | |
42,796,686 | |||
Trading Companies & Distributors - 0.6% | |||
Core & Main, Inc. (a) | 42,658 | 2,087,683 | |
W.W. Grainger, Inc. | 8,895 | 8,025,425 | |
10,113,108 | |||
TOTAL INDUSTRIALS | 311,463,213 | ||
INFORMATION TECHNOLOGY - 14.8% | |||
Communications Equipment - 0.1% | |||
Arista Networks, Inc. (a) | 5,337 | 1,870,512 | |
Juniper Networks, Inc. | 1,147 | 41,820 | |
1,912,332 | |||
Electronic Equipment, Instruments & Components - 1.5% | |||
Amphenol Corp. Class A | 95 | 6,400 | |
Keysight Technologies, Inc. (a) | 42,223 | 5,773,995 | |
TD SYNNEX Corp. | 78,206 | 9,024,972 | |
Trimble, Inc. (a) | 184,639 | 10,325,013 | |
25,130,380 | |||
IT Services - 1.4% | |||
Gartner, Inc. (a) | 15,607 | 7,008,479 | |
Kyndryl Holdings, Inc. (a) | 105,986 | 2,788,492 | |
Twilio, Inc. Class A (a) | 133,376 | 7,577,091 | |
Wix.com Ltd. (a) | 36,601 | 5,822,121 | |
23,196,183 | |||
Semiconductors & Semiconductor Equipment - 2.9% | |||
Cirrus Logic, Inc. (a) | 78,973 | 10,081,693 | |
Enphase Energy, Inc. (a) | 35,596 | 3,549,277 | |
KLA Corp. | 10,452 | 8,617,779 | |
Monolithic Power Systems, Inc. | 17,417 | 14,311,201 | |
Qorvo, Inc. (a) | 90,141 | 10,459,962 | |
47,019,912 | |||
Software - 7.4% | |||
ANSYS, Inc. (a) | 7,763 | 2,495,805 | |
AppLovin Corp. Class A, (a) | 138,281 | 11,507,745 | |
Crowdstrike Holdings, Inc. (a) | 41 | 15,711 | |
DocuSign, Inc. (a) | 191,023 | 10,219,731 | |
Dropbox, Inc. Class A (a) | 433,103 | 9,731,824 | |
HubSpot, Inc. (a) | 20,257 | 11,947,376 | |
Manhattan Associates, Inc. (a) | 43,721 | 10,785,096 | |
MicroStrategy, Inc. Class A (a) | 1,840 | 2,534,563 | |
Nutanix, Inc. Class A (a) | 126,323 | 7,181,463 | |
Pegasystems, Inc. | 150,587 | 9,115,031 | |
RingCentral, Inc. (a) | 289,583 | 8,166,241 | |
Smartsheet, Inc. (a) | 154,392 | 6,805,599 | |
Teradata Corp. (a) | 263,570 | 9,108,979 | |
Workday, Inc. Class A (a) | 28,539 | 6,380,179 | |
Zoom Video Communications, Inc. Class A (a) | 184,284 | 10,907,770 | |
Zscaler, Inc. (a) | 31,296 | 6,014,778 | |
122,917,891 | |||
Technology Hardware, Storage & Peripherals - 1.5% | |||
Hewlett Packard Enterprise Co. | 606,138 | 12,831,941 | |
NetApp, Inc. | 94,720 | 12,199,936 | |
25,031,877 | |||
TOTAL INFORMATION TECHNOLOGY | 245,208,575 | ||
MATERIALS - 6.3% | |||
Chemicals - 2.3% | |||
Axalta Coating Systems Ltd. (a) | 85,594 | 2,924,747 | |
DuPont de Nemours, Inc. | 137,686 | 11,082,346 | |
Eastman Chemical Co. | 51,005 | 4,996,960 | |
Ecolab, Inc. | 31,808 | 7,570,304 | |
Element Solutions, Inc. | 128,971 | 3,497,694 | |
International Flavors & Fragrances, Inc. | 5,502 | 523,845 | |
PPG Industries, Inc. | 59,740 | 7,520,669 | |
38,116,565 | |||
Construction Materials - 0.8% | |||
Vulcan Materials Co. | 52,944 | 13,166,114 | |
Containers & Packaging - 0.6% | |||
Ardagh Metal Packaging SA | 59,262 | 201,491 | |
Berry Global Group, Inc. | 132,327 | 7,787,444 | |
International Paper Co. | 8,922 | 384,984 | |
Sealed Air Corp. | 57,546 | 2,002,025 | |
WestRock Co. | 894 | 44,932 | |
10,420,876 | |||
Metals & Mining - 2.1% | |||
Nucor Corp. | 89,248 | 14,108,324 | |
Reliance, Inc. | 33,525 | 9,574,740 | |
Steel Dynamics, Inc. | 85,005 | 11,008,148 | |
34,691,212 | |||
Paper & Forest Products - 0.5% | |||
Louisiana-Pacific Corp. | 87,371 | 7,193,254 | |
TOTAL MATERIALS | 103,588,021 | ||
REAL ESTATE - 5.6% | |||
Equity Real Estate Investment Trusts (REITs) - 5.1% | |||
Agree Realty Corp. | 109,857 | 6,804,543 | |
American Homes 4 Rent Class A | 253,954 | 9,436,931 | |
Crown Castle, Inc. | 66,231 | 6,470,769 | |
EastGroup Properties, Inc. | 5,561 | 945,926 | |
EPR Properties | 139,738 | 5,866,201 | |
First Industrial Realty Trust, Inc. | 25,633 | 1,217,824 | |
Gaming & Leisure Properties | 29,812 | 1,347,801 | |
Invitation Homes, Inc. | 332,604 | 11,937,158 | |
Park Hotels & Resorts, Inc. | 308,651 | 4,623,592 | |
Public Storage Operating Co. | 23,336 | 6,712,600 | |
Regency Centers Corp. | 35,149 | 2,186,268 | |
SBA Communications Corp. Class A | 22,173 | 4,352,560 | |
Simon Property Group, Inc. | 104,097 | 15,801,919 | |
UDR, Inc. | 6,206 | 255,377 | |
VICI Properties, Inc. | 252,116 | 7,220,602 | |
Welltower, Inc. | 2 | 209 | |
85,180,280 | |||
Real Estate Management & Development - 0.5% | |||
CoStar Group, Inc. (a) | 31,152 | 2,309,609 | |
Zillow Group, Inc.: | |||
Class A (a) | 54,895 | 2,472,471 | |
Class C (a) | 63,780 | 2,958,754 | |
7,740,834 | |||
TOTAL REAL ESTATE | 92,921,114 | ||
UTILITIES - 4.0% | |||
Electric Utilities - 1.3% | |||
Constellation Energy Corp. | 12 | 2,403 | |
Edison International | 15,821 | 1,136,106 | |
Evergy, Inc. | 46,829 | 2,480,532 | |
Hawaiian Electric Industries, Inc. (b) | 35,143 | 316,990 | |
NRG Energy, Inc. | 136,484 | 10,626,644 | |
PG&E Corp. | 231,878 | 4,048,590 | |
Xcel Energy, Inc. | 64,395 | 3,439,337 | |
22,050,602 | |||
Gas Utilities - 0.3% | |||
National Fuel Gas Co. | 92,146 | 4,993,392 | |
Independent Power and Renewable Electricity Producers - 1.4% | |||
Clearway Energy, Inc.: | |||
Class A | 29,959 | 678,871 | |
Class C | 47,865 | 1,181,787 | |
The AES Corp. | 525,687 | 9,236,321 | |
Vistra Corp. | 146,154 | 12,566,321 | |
23,663,300 | |||
Multi-Utilities - 1.0% | |||
CenterPoint Energy, Inc. | 320,881 | 9,940,893 | |
WEC Energy Group, Inc. | 77,281 | 6,063,467 | |
16,004,360 | |||
TOTAL UTILITIES | 66,711,654 | ||
TOTAL COMMON STOCKS (Cost $1,451,304,338) | 1,640,682,318 | ||
U.S. Treasury Obligations - 0.3% | |||
Principal Amount (d) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.28% to 5.32% 7/5/24 to 9/26/24 (e) (Cost $4,283,503) | 4,320,000 | 4,283,540 | |
Money Market Funds - 5.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (f) | 79,612,733 | 79,628,655 | |
Fidelity Securities Lending Cash Central Fund 5.38% (f)(g) | 10,079,334 | 10,080,342 | |
TOTAL MONEY MARKET FUNDS (Cost $89,708,996) | 89,708,997 | ||
TOTAL INVESTMENT IN SECURITIES - 104.9% (Cost $1,545,296,837) | 1,734,674,855 |
NET OTHER ASSETS (LIABILITIES) - (4.9)% | (81,098,779) |
NET ASSETS - 100.0% | 1,653,576,076 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P MidCap 400 Index Contracts (United States) | 17 | Sep 2024 | 5,028,770 | 48,099 | 48,099 |
The notional amount of futures purchased as a percentage of Net Assets is 0.3% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Level 3 security |
(d) | Amount is stated in United States dollars unless otherwise noted. |
(e) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $4,113,640. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 49,721,554 | 506,053,519 | 476,149,819 | 567,172 | 3,401 | - | 79,628,655 | 0.2% |
Fidelity Securities Lending Cash Central Fund 5.38% | 13,170,745 | 142,307,195 | 145,397,599 | 20,112 | - | 1 | 10,080,342 | 0.0% |
Total | 62,892,299 | 648,360,714 | 621,547,418 | 587,284 | 3,401 | 1 | 89,708,997 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 39,911,866 | 39,911,866 | - | - |
Consumer Discretionary | 200,729,645 | 200,729,645 | - | - |
Consumer Staples | 65,200,906 | 65,200,906 | - | - |
Energy | 81,719,060 | 81,719,060 | - | - |
Financials | 269,070,710 | 269,070,710 | - | - |
Health Care | 164,157,554 | 164,151,108 | - | 6,446 |
Industrials | 311,463,213 | 311,463,213 | - | - |
Information Technology | 245,208,575 | 245,208,575 | - | - |
Materials | 103,588,021 | 103,588,021 | - | - |
Real Estate | 92,921,114 | 92,921,114 | - | - |
Utilities | 66,711,654 | 66,711,654 | - | - |
U.S. Government and Government Agency Obligations | 4,283,540 | - | 4,283,540 | - |
Money Market Funds | 89,708,997 | 89,708,997 | - | - |
Total Investments in Securities: | 1,734,674,855 | 1,730,384,869 | 4,283,540 | 6,446 |
Derivative Instruments: Assets | ||||
Futures Contracts | 48,099 | 48,099 | - | - |
Total Assets | 48,099 | 48,099 | - | - |
Total Derivative Instruments: | 48,099 | 48,099 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 48,099 | 0 |
Total Equity Risk | 48,099 | 0 |
Total Value of Derivatives | 48,099 | 0 |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $9,827,924) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,455,587,841) | $ | 1,644,965,858 | ||
Fidelity Central Funds (cost $89,708,996) | 89,708,997 | |||
Total Investment in Securities (cost $1,545,296,837) | $ | 1,734,674,855 | ||
Receivable for investments sold | 83,620,752 | |||
Receivable for fund shares sold | 2,946,807 | |||
Dividends receivable | 1,200,715 | |||
Distributions receivable from Fidelity Central Funds | 95,719 | |||
Receivable for daily variation margin on futures contracts | 109,753 | |||
Receivable from investment adviser for expense reductions | 30,062 | |||
Other receivables | 3,442 | |||
Total assets | 1,822,682,105 | |||
Liabilities | ||||
Payable to custodian bank | $ | 49,314 | ||
Payable for investments purchased | 87,847,472 | |||
Payable for fund shares redeemed | 70,723,378 | |||
Accrued management fee | 316,698 | |||
Other payables and accrued expenses | 87,738 | |||
Collateral on securities loaned | 10,081,429 | |||
Total liabilities | 169,106,029 | |||
Net Assets | $ | 1,653,576,076 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,524,835,092 | ||
Total accumulated earnings (loss) | 128,740,984 | |||
Net Assets | $ | 1,653,576,076 | ||
Net Asset Value, offering price and redemption price per share ($1,653,576,076 ÷ 56,116,761 shares) | $ | 29.47 |
Statement of Operations | ||||||
Ten months ended June 30, 2024 | Year ended August 31, 2023 | |||||
Investment Income | ||||||
Dividends | $ | 18,243,821 | 26,198,952 | |||
Interest | 64,890 | 43,267 | ||||
Income from Fidelity Central Funds (including $20,112 and $126,747 from security lending) | 587,284 | 1,013,463 | ||||
Total income | 18,895,995 | 27,255,682 | ||||
Expenses | ||||||
Management fee | $ | 3,648,331 | 7,794,857 | |||
Independent trustees' fees and expenses | 6,197 | 9,500 | ||||
Interest | 12,560 | 2,322 | ||||
Miscellaneous | 95,644 | - | ||||
Total expenses before reductions | 3,762,732 | 7,806,679 | ||||
Expense reductions | (36,231) | (1,764) | ||||
Total expenses after reductions | 3,726,501 | 7,804,915 | ||||
Net Investment income (loss) | 15,169,494 | 19,450,767 | ||||
Realized and Unrealized Gain (Loss) | ||||||
Net realized gain (loss) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | 6,384,996 | (62,536,880) | ||||
Redemptions in-kind | 169,834,541 | 69,766,859 | ||||
Fidelity Central Funds | 3,401 | - | ||||
Foreign currency transactions | 504 | - | ||||
Futures contracts | 2,242,957 | 1,494,441 | ||||
Total net realized gain (loss) | 178,466,399 | 8,724,420 | ||||
Change in net unrealized appreciation (depreciation) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | 14,147,893 | 112,237,090 | ||||
Fidelity Central Funds | 1 | - | ||||
Futures contracts | (303,694) | (773,128) | ||||
Total change in net unrealized appreciation (depreciation) | 13,844,200 | 111,463,962 | ||||
Net gain (loss) | 192,310,599 | 120,188,382 | ||||
Net increase (decrease) in net assets resulting from operations | $ | 207,480,093 | 139,639,149 |
See Organization and Merger information note regarding reorganization from mutual fund to exchange traded fund.
Statement of Changes in Net Assets | ||||||
Ten months ended June 30, 2024 | Year ended August 31, 2023 | Year ended August 31, 2022 | ||||
Increase (Decrease) in Net Assets | ||||||
Operations | ||||||
Net investment income (loss) | $ | 15,169,494 | $ | 19,450,767 | $ | 19,011,742 |
Net realized gain (loss) | 178,466,399 | 8,724,420 | 101,845,182 | |||
Change in net unrealized appreciation (depreciation) | 13,844,200 | 111,463,962 | (369,508,755) | |||
Net increase (decrease) in net assets resulting from operations | 207,480,093 | 139,639,149 | (248,651,831) | |||
Distributions to shareholders | (25,950,215) | (57,460,804) | (258,245,278) | |||
Share transactions | ||||||
Proceeds from sales of shares | 655,066,382 | 531,911,323 | 330,859,667 | |||
Reinvestment of distributions | 14,294,274 | 54,197,269 | 243,001,334 | |||
Cost of shares redeemed | (833,830,134) | (686,633,472) | (454,449,105) | |||
Net increase (decrease) in net assets resulting from share transactions | (164,469,478) | (100,524,880) | 119,411,896 | |||
Total increase (decrease) in net assets | 17,060,400 | (18,346,535) | (387,485,213) | |||
Net Assets | ||||||
Beginning of period | 1,636,515,676 | 1,654,862,211 | 2,042,347,424 | |||
End of period | $ | 1,653,576,076 | $ | 1,636,515,676 | $ | 1,654,862,211 |
Other Information | ||||||
Shares | ||||||
Sold | 22,793,530 | 21,113,682 | 11,511,431 | |||
Issued in reinvestment of distributions | 584,792 | 2,258,425 | 8,758,517 | |||
Redeemed | (30,719,865) | (27,059,804) | (16,614,762) | |||
Net increase (decrease) | (7,341,543) | (3,687,697) | 3,655,186 | |||
Fidelity® Enhanced Mid Cap ETF |
Years ended June 30, | 2024 A,B | 2023 B,C | 2022 B,C | 2021 B,C | 2020 B,C | 2019 B,C | ||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 25.79 | $ | 24.65 | $ | 32.17 | $ | 23.47 | $ | 22.59 | $ | 25.42 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) D,E | .27 | .28 | .28 | .22 | .29 | .33 | ||||||
Net realized and unrealized gain (loss) | 3.86 | 1.69 | (3.81) | 9.40 | 1.50 | (1.10) | ||||||
Total from investment operations | 4.13 | 1.97 | (3.53) | 9.62 | 1.79 | (.77) | ||||||
Distributions from net investment income | (.45) | (.23) | (.23) | (.25) | (.34) | (.39) | ||||||
Distributions from net realized gain | - | (.57) | (3.76) | (.67) | (.59) | (1.69) | ||||||
Total distributions | (.45) | (.83) F | (3.99) | (.92) | (.91) F | (2.06) F | ||||||
Net asset value, end of period | $ | 29.47 | $ | 25.79 | $ | 24.65 | $ | 32.17 | $ | 23.47 | $ | 22.59 |
Total Return G,H,I | 16.23 % | 8.19% | (12.36)% | 41.82% | 7.91% | (2.19)% | ||||||
Ratios to Average Net Assets E,J,K | ||||||||||||
Expenses before reductions | .29% L,M | .45% | .51% | .59% | .59% | .59% | ||||||
Expenses net of fee waivers, if any | .29 % L,M | .45% | .51% | .59% | .59% | .59% | ||||||
Expenses net of all reductions | .29% L,M | .45% | .51% | .59% | .59% | .59% | ||||||
Net investment income (loss) | 1.19% L,M | 1.12% | 1.00% | .77% | 1.33% | 1.46% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,653,576 | $ | 1,636,516 | $ | 1,654,862 | $ | 2,042,347 | $ | 1,182,253 | $ | 1,263,319 |
Portfolio turnover rate N | 73 % L,O | 104% | 116% | 70% | 73% | 90% |
Current ETFs | Former Mutual Funds (Predecessor Funds) |
Fidelity Enhanced International ETF | Fidelity International Enhanced Index Fund |
Fidelity Enhanced Large Cap Core ETF | Fidelity Large Cap Core Enhanced Index Fund |
Fidelity Enhanced Large Cap Growth ETF | Fidelity Large Cap Growth Enhanced Index Fund |
Fidelity Enhanced Large Cap Value ETF | Fidelity Large Cap Value Enhanced Index Fund |
Fidelity Enhanced Mid Cap ETF | Fidelity Mid Cap Enhanced Index Fund |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | .005% |
Tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized depreciation ($) | Net unrealized appreciation (depreciation)($) | |
Fidelity Enhanced International ETF | 1,295,415,423 | 297,487,526 | (32,713,968) | 264,773,558 |
Fidelity Enhanced Large Cap Core ETF | 2,145,089,914 | 811,903,767 | (46,117,681) | 765,786,086 |
Fidelity Enhanced Large Cap Growth ETF | 1,459,926,138 | 1,289,465,331 | (25,027,656) | 1,264,437,675 |
Fidelity Enhanced Large Cap Value ETF | 1,697,132,318 | 209,765,075 | (72,448,398) | 137,316,677 |
Fidelity Enhanced Mid Cap ETF | 1,547,950,194 | 245,175,059 | (58,450,398) | 186,724,661 |
Undistributed ordinary income ($) | Capital loss carryforward ($) | Net unrealized appreciation (depreciation) on securities and other investments ($) | |
Fidelity Enhanced International ETF | 5,151,360 | (124,949,980) | 264,723,907 |
Fidelity Enhanced Large Cap Core ETF | - | (60,660,874) | 765,786,086 |
Fidelity Enhanced Large Cap Growth ETF | 308,054 | (254,608) | 1,264,437,675 |
Fidelity Enhanced Large Cap Value ETF | - | (54,655,669) | 137,317,585 |
Fidelity Enhanced Mid Cap ETF | - | (57,983,678) | 186,724,661 |
Short-term ($) | Long-term ($) | Total capital loss carryforward ($) | |
Fidelity Enhanced International ETF | (124,949,980) | (-) | (124,949,980) |
Fidelity Enhanced Large Cap Core ETF | (60,660,874) | (-) | (60,660,874) |
Fidelity Enhanced Large Cap Growth ETF | (254,608) | (-) | (254,608) |
Fidelity Enhanced Large Cap Value ETF | (31,743,490) | (22,912,179) | (54,655,669) |
Fidelity Enhanced Mid Cap ETF | (57,983,678) | (-) | (57,983,678) |
June 30, 2024 | |||
Ordinary Income ($) | Long-term Capital Gains ($) | Total ($) | |
Fidelity Enhanced International ETF | 71,077,009 | - | 71,077,009 |
Fidelity Enhanced Large Cap Core ETF | 35,565,387 | - | 35,565,387 |
Fidelity Enhanced Large Cap Growth ETF | 21,077,755 | 601,538 | 21,679,293 |
Fidelity Enhanced Large Cap Value ETF | 102,487,259 | 72,971,462 | 175,458,721 |
Fidelity Enhanced Mid Cap ETF | 25,950,215 | - | 25,950,215 |
August 31, 2023 | |||
Ordinary Income ($) | Long-term Capital Gains ($) | Total ($) | |
Fidelity International Enhanced Index Fund | 33,763,256 | - | 33,763,256 |
Fidelity Large Cap Core Enhanced Index Fund | 14,695,385 | 7,597,614 | 22,292,999 |
Fidelity Large Cap Growth Enhanced Index Fund | 10,050,462 | - | 10,050,462 |
Fidelity Large Cap Value Enhanced Index Fund | 84,574,965 | 172,625,609 | 257,200,574 |
Fidelity Mid Cap Enhanced Index Fund | 16,855,170 | 40,605,634 | 57,460,804 |
August 31, 2022 | |||
Ordinary Income ($) | Long-term Capital Gains ($) | Total ($) | |
Fidelity International Enhanced Index Fund | 40,640,601 | - | 40,640,601 |
Fidelity Large Cap Core Enhanced Index Fund | 93,609,903 | 110,605,741 | 204,215,644 |
Fidelity Large Cap Growth Enhanced Index Fund | 84,709,586 | 150,046,589 | 234,756,175 |
Fidelity Large Cap Value Enhanced Index Fund | 298,040,890 | 399,041,651 | 697,082,541 |
Fidelity Mid Cap Enhanced Index Fund | 40,554,225 | 217,691,053 | 258,245,278 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Enhanced International ETF | 1,186,864,415 | 1,291,747,707 |
Fidelity Enhanced Large Cap Core ETF | 1,518,276,833 | 983,060,135 |
Fidelity Enhanced Large Cap Growth ETF | 1,570,226,140 | 1,037,863,293 |
Fidelity Enhanced Large Cap Value ETF | 2,266,867,914 | 1,760,524,035 |
Fidelity Enhanced Mid Cap ETF | 1,115,577,326 | 851,638,788 |
In-Kind Subscriptions ($) | In-Kind Redemptions ($) | Total net realized gain or (loss) ($) | |
Fidelity Enhanced International ETF | 62,960,600 | 118,251,946 | 25,930,557 |
Fidelity Enhanced Large Cap Core ETF | 639,079,257 | 773,633,770 | 224,859,103 |
Fidelity Enhanced Large Cap Growth ETF | 190,819,337 | 973,172,501 | 222,950,290 |
Fidelity Enhanced Large Cap Value ETF | 46,401,388 | 511,959,464 | 90,947,836 |
Fidelity Enhanced Mid Cap ETF | 140,444,287 | 517,264,468 | 159,281,111 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Enhanced Large Cap Growth ETF | 2,376,033 | 30,168,211 | 67,930,785 |
Fidelity Enhanced Large Cap Value ETF | 269,891,296 | 408,600,213 | 3,633,326,017 |
Fidelity Enhanced Mid Cap ETF | 2,515,337 | 10,553,430 | 40,748,466 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Large Cap Core Enhanced Index Fund | 1,643,260 | 23,998,066 | 41,117,535 |
Fidelity Large Cap Growth Enhanced Index Fund | 3,558,843 | 14,287,867 | 83,970,422 |
Fidelity Large Cap Value Enhanced Index Fund | 14,611,088 | 117,706,408 | 375,867,257 |
Fidelity Mid Cap Enhanced Index Fund | 7,819,926 | 69,766,859 | 200,533,885 |
Fee Rate | |
Fidelity Enhanced International ETF | .28% |
Fidelity Enhanced Large Cap Core ETF | .18% |
Fidelity Enhanced Large Cap Growth ETF | .18% |
Fidelity Enhanced Large Cap Value ETF | .18% |
Fidelity Enhanced Mid Cap ETF | .23% |
Fee Rate | |
Fidelity International Enhanced Index Fund | .55% |
Fidelity Large Cap Core Enhanced Index Fund | .39% |
Fidelity Large Cap Growth Enhanced Index Fund | .39% |
Fidelity Large Cap Value Enhanced Index Fund | .39% |
Fidelity Mid Cap Enhanced Index Fund | .45% |
June 30, 2024 | Amount ($) |
Fidelity Enhanced International ETF | 2,583 |
Fidelity Enhanced Large Cap Core ETF | 2,742 |
Fidelity Enhanced Large Cap Growth ETF | 2,264 |
Fidelity Enhanced Large Cap Value ETF | 6,571 |
Fidelity Enhanced Mid Cap ETF | 3,624 |
August 31, 2023 | Amount ($) |
Fidelity International Enhanced Index Fund | 579 |
Fidelity Large Cap Core Enhanced Index Fund | 1,974 |
Fidelity Large Cap Growth Enhanced Index Fund | 4,259 |
Fidelity Large Cap Value Enhanced Index Fund | 3,848 |
Fidelity Mid Cap Enhanced Index Fund | 1,614 |
Borrower or Lender | Average Loan Balance ($) | Weighted Average Interest Rate | Interest Expense ($) | |
Fidelity Enhanced International ETF | Borrower | 9,632,077 | 5.57% | 19,359 |
Fidelity Enhanced Large Cap Core ETF | Borrower | 4,991,000 | 5.57% | 3,088 |
Fidelity Enhanced Large Cap Growth ETF | Borrower | 12,409,800 | 5.57% | 19,184 |
Fidelity Enhanced Large Cap Value ETF | Borrower | 13,109,000 | 5.57% | 4,057 |
Fidelity Enhanced Mid Cap ETF | Borrower | 9,026,889 | 5.57% | 12,560 |
Borrower or Lender | Average Loan Balance ($) | Weighted Average Interest Rate | Interest Expense ($) | |
Fidelity International Enhanced Index Fund | Borrower | 12,807,600 | 4.70% | 16,731 |
Fidelity Large Cap Core Enhanced Index Fund | Borrower | 22,101,250 | 3.68% | 27,112 |
Fidelity Large Cap Growth Enhanced Index Fund | Borrower | 54,770,800 | 5.44% | 41,394 |
Fidelity Large Cap Value Enhanced Index Fund | Borrower | 61,479,000 | 4.35% | 29,724 |
Fidelity Mid Cap Enhanced Index Fund | Borrower | 4,314,500 | 4.84% | 2,322 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Enhanced International ETF | 1,434,524 | 23,607,800 | 3,650,536 |
Fidelity Enhanced Large Cap Core ETF | 17,099,874 | 29,165,147 | (2,360,477) |
Fidelity Enhanced Large Cap Growth ETF | 50,050,683 | 46,431,231 | (1,595,145) |
Fidelity Enhanced Large Cap Value ETF | 54,149,399 | 27,378,273 | (4,087,871) |
Fidelity Enhanced Mid Cap ETF | 28,107,684 | 12,405,491 | 708,527 |
June 30, 2024 | Amount ($) |
Fidelity Enhanced International ETF | 6,846 |
August 31, 2023 | Amount ($) |
Fidelity Large Cap Value Enhanced Index Fund | 3,045 |
June 30, 2024 | Total Security Lending Fees Paid to NFS ($) | Security Lending Income From Securities Loaned to NFS ($) | Value of Securities Loaned to NFS at Period End ($) |
Fidelity Enhanced International ETF | 26,690 | - | - |
Fidelity Enhanced Large Cap Core ETF | 85 | - | - |
Fidelity Enhanced Large Cap Growth ETF | 102 | - | - |
Fidelity Enhanced Large Cap Value ETF | 972 | 28 | - |
Fidelity Enhanced Mid Cap ETF | 2,051 | 15 | - |
August 31, 2023 | Total Security Lending Fees Paid to NFS ($) | Security Lending Income From Securities Loaned to NFS ($) | Value of Securities Loaned to NFS at Period End ($) |
Fidelity International Enhanced Index Fund | 33,238 | 9 | - |
Fidelity Large Cap Core Enhanced Index Fund | 3,721 | - | - |
Fidelity Large Cap Growth Enhanced Index Fund | 310 | - | - |
Fidelity Large Cap Value Enhanced Index Fund | 17,561 | 374 | - |
Fidelity Mid Cap Enhanced Index Fund | 13,555 | 3,917 | - |
Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Large Cap Core Enhanced Index | $8,149,000 | 3.58% | $810 |
Reimbursement ($) | |
Fidelity Enhanced International ETF | 34,752 |
Fidelity Enhanced Large Cap Core ETF | 63,754 |
Fidelity Enhanced Large Cap Growth ETF | 26,209 |
Fidelity Enhanced Large Cap Value ETF | 25,566 |
Fidelity Enhanced Mid Cap ETF | 30,062 |
June 30, 2024 | Custodian credits ($) |
Fidelity Enhanced International ETF | 149 |
Fidelity Enhanced Large Cap Core ETF | 163 |
Fidelity Enhanced Large Cap Growth ETF | 364 |
Fidelity Enhanced Large Cap Value ETF | 14,762 |
Fidelity Enhanced Mid Cap ETF | 6,169 |
August 31, 2023 | Custodian credits ($) |
Fidelity International Enhanced Index Fund | 441 |
Fidelity Large Cap Core Enhanced Index Fund | 2,087 |
Fidelity Large Cap Growth Enhanced Index Fund | 2,918 |
Fidelity Large Cap Value Enhanced Index Fund | 1,773 |
Fidelity Mid Cap Enhanced Index Fund | 1,764 |
Predecessor Funds | New ETFs |
Fidelity International Enhanced Index Fund | Fidelity Enhanced International ETF |
Fidelity Large Cap Core Enhanced Index Fund | Fidelity Enhanced Large Cap Core ETF |
Fidelity Large Cap Growth Enhanced Index Fund | Fidelity Enhanced Large Cap Growth ETF |
Fidelity Large Cap Value Enhanced Index Fund | Fidelity Enhanced Large Cap Value ETF |
Fidelity Mid Cap Enhanced Index Fund | Fidelity Enhanced Mid Cap ETF |
Predecessor Fund/Accounting Survivor | Investments $ | Unrealized appreciation (depreciation) $ | Net Assets $ | Shares Exchanged | Shares Exchanged Ratio |
Fidelity International Enhanced Index Fund | 1,368,602,643 | 195,092,188 | 1,368,248,892 | 54,730,068 | .4057160000 |
Fidelity Large Cap Core Enhanced Index Fund | 1,840,988,775 | 537,069,093 | 1,948,361,461 | 77,934,309 | .8388640000 |
Fidelity Large Cap Growth Enhanced Index Fund | 2,012,959,825 | 875,152,421 | 2,145,716,375 | 85,828,689 | 1.2032280000 |
Fidelity Large Cap Value Enhanced Index Fund | 1,827,644,613 | 392,942 | 2,004,099,301 | 80,163,716 | .5729240000 |
Fidelity Mid Cap Enhanced Index Fund | 1,369,301,709 | 129,571,229 | 1,460,889,645 | 58,435,751 | .6458920000 |
Acquiring ETF | Net Assets $ | Total net assets after the acquisition $ |
Fidelity Enhanced International ETF | 25 | 1,368,248,917 |
Fidelity Enhanced Large Cap Core ETF | 25 | 1,948,361,486 |
Fidelity Enhanced Large Cap Growth ETF | 25 | 2,145,716,400 |
Fidelity Enhanced Large Cap Value ETF | 25 | 2,004,099,326 |
Fidelity Enhanced Mid Cap ETF | 25 | 1,460,889,670 |
ETF name | Net investment income (loss) | Total net realized gain (loss) | Total change in net unrealized appreciation (depreciation) | Net increase (decrease) in net assets resulting from operations |
Fidelity Enhanced International ETF | $35,812,169 | $99,267,722 | $58,817,853 | $193,897,744 |
Fidelity Enhanced Large Cap Core ETF | 22,993,277 | 209,030,464 | 246,834,439 | 478,858,180 |
Fidelity Enhanced Large Cap Growth ETF | 12,362,182 | 260,568,152 | 368,592,605 | 641,522,939 |
Fidelity Enhanced Large Cap Value ETF | 40,907,004 | 453,402,154 | (574,650,497) | (80,341,339) |
Fidelity Enhanced Mid Cap ETF | 15,874,097 | 178,466,399 | 13,844,200 | 208,184,696 |
Fidelity Enhanced Large Cap Core ETF | |
December 2023 | 100% |
March 2024 | 100% |
June 2024 | 100% |
Fidelity Enhanced Large Cap Growth ETF | |
December 2023 | 100% |
March 2024 | 100% |
June 2024 | 100% |
Fidelity Enhanced Large Cap Value ETF | |
December 2023 | 100% |
March 2024 | 100% |
June 2024 | 100% |
Fidelity Enhanced Mid Cap ETF | |
December 2023 | 100% |
March 2024 | 86% |
June 2024 | 86% |
Fidelity Enhanced International ETF | |
December 2023 | - |
March 2024 | 100% |
June 2024 | 100% |
Fidelity Enhanced Large Cap Core ETF | |
December 2023 | 100% |
March 2024 | 100% |
June 2024 | 100% |
Fidelity Enhanced Large Cap Growth ETF | |
December 2023 | 100% |
March 2024 | 100% |
June 2024 | 100% |
Fidelity Enhanced Large Cap Value ETF | |
December 2023 | 100% |
March 2024 | 100% |
June 2024 | 100% |
Fidelity Enhanced Mid Cap ETF | |
December 2023 | 100% |
March 2024 | 94.74% |
June 2024 | 94.74% |
Fidelity Enhanced Mid Cap ETF | |
March 2024 | 5.27% |
June 2024 | 5.27% |
Fidelity Enhanced International ETF | $456,938 |
Fidelity Enhanced Mid Cap ETF | $462,145 |
Fidelity Large Cap Core Enhanced Index Fund | |
October 2023 | 100% |
November 2023 | 100% |
Fidelity Large Cap Growth Enhanced Index Fund | |
October 2023 | 100% |
November 2023 | 100% |
Fidelity Large Cap Value Enhanced Index Fund | |
October 2023 | 100% |
November 2023 | 100% |
Fidelity Mid Cap Enhanced Index Fund | |
October 2023 | 100% |
November 2023 | 76% |
Fidelity International Enhanced Index Fund | |
October 2023 | 89.31% |
November 2023 | 86.60% |
Fidelity Large Cap Core Enhanced Index Fund | |
October 2023 | 100% |
November 2023 | 100% |
Fidelity Large Cap Growth Enhanced Index Fund | |
October 2023 | 100% |
November 2023 | 100% |
Fidelity Large Cap Value Enhanced Index Fund | |
October 2023 | 100% |
November 2023 | 100% |
Fidelity Mid Cap Enhanced Index Fund | |
October 2023 | 99.86% |
November 2023 | 92.24% |
Fidelity Mid Cap Enhanced Index Fund | |
October 2023 | 0.15% |
November 2023 | 7.77% |
Pay Date | Income | Taxes | |
Fidelity International Enhanced Index Fund | |||
10/16/2023 | $0.2736 | $0.0214 | |
11/15/2023 | $0.0561 | $0.0023 |
Contents
Common Stocks - 98.0% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 3.0% | |||
Diversified Telecommunication Services - 0.9% | |||
ATN International, Inc. | 24,296 | 553,949 | |
Bandwidth, Inc. Class A, (a) | 108,491 | 1,831,328 | |
Lumen Technologies, Inc. (a)(b) | 2,128,500 | 2,341,350 | |
Shenandoah Telecommunications Co. | 14,690 | 239,888 | |
4,966,515 | |||
Entertainment - 0.6% | |||
Eventbrite, Inc. (a) | 29,678 | 143,642 | |
Lions Gate Entertainment Corp.: | |||
Class A (a)(b) | 99,607 | 938,298 | |
Class B (a) | 111,568 | 956,138 | |
Madison Square Garden Entertainment Corp. Class A (a) | 36,561 | 1,251,483 | |
3,289,561 | |||
Interactive Media & Services - 0.9% | |||
Shutterstock, Inc. (b) | 7,192 | 278,330 | |
TrueCar, Inc. (a) | 159,299 | 498,606 | |
Vimeo, Inc. (a) | 297,321 | 1,109,007 | |
Yelp, Inc. (a) | 91,809 | 3,392,343 | |
Zedge, Inc. (a) | 22,926 | 69,924 | |
ZipRecruiter, Inc. (a) | 16,857 | 153,230 | |
5,501,440 | |||
Media - 0.2% | |||
John Wiley & Sons, Inc. Class A | 36,808 | 1,498,086 | |
Wireless Telecommunication Services - 0.4% | |||
Spok Holdings, Inc. | 8,728 | 129,262 | |
Telephone & Data Systems, Inc. | 96,482 | 2,000,072 | |
2,129,334 | |||
TOTAL COMMUNICATION SERVICES | 17,384,936 | ||
CONSUMER DISCRETIONARY - 10.3% | |||
Automobile Components - 0.8% | |||
American Axle & Manufacturing Holdings, Inc. (a) | 228,912 | 1,600,095 | |
Cooper-Standard Holding, Inc. (a)(b) | 64,049 | 796,770 | |
The Goodyear Tire & Rubber Co. (a) | 181,098 | 2,055,462 | |
4,452,327 | |||
Diversified Consumer Services - 0.9% | |||
2U, Inc. (a)(b) | 19,211 | 98,552 | |
Chegg, Inc. (a)(b) | 173,005 | 546,696 | |
Duolingo, Inc. (a) | 14,312 | 2,986,485 | |
Frontdoor, Inc. (a) | 49,243 | 1,663,921 | |
5,295,654 | |||
Hotels, Restaurants & Leisure - 2.0% | |||
Dine Brands Global, Inc. | 3,320 | 120,184 | |
Everi Holdings, Inc. (a) | 78,214 | 656,998 | |
International Game Technology PLC | 163,664 | 3,348,565 | |
Light & Wonder, Inc. Class A (a) | 22,115 | 2,319,421 | |
PlayAGS, Inc. (a) | 56,623 | 651,165 | |
Shake Shack, Inc. Class A (a) | 12,110 | 1,089,900 | |
Sweetgreen, Inc. Class A (a) | 12,858 | 387,540 | |
Texas Roadhouse, Inc. | 1,602 | 275,079 | |
Wingstop, Inc. | 5,965 | 2,521,167 | |
11,370,019 | |||
Household Durables - 3.4% | |||
Flexsteel Industries, Inc. | 17,102 | 531,188 | |
Installed Building Products, Inc. (b) | 19,391 | 3,988,341 | |
KB Home | 7,366 | 516,946 | |
M/I Homes, Inc. (a) | 29,663 | 3,623,039 | |
Meritage Homes Corp. | 19,022 | 3,078,711 | |
Taylor Morrison Home Corp. (a) | 74,674 | 4,139,927 | |
TRI Pointe Homes, Inc. (a) | 100,185 | 3,731,891 | |
19,610,043 | |||
Specialty Retail - 3.2% | |||
Abercrombie & Fitch Co. Class A (a) | 27,459 | 4,883,309 | |
American Eagle Outfitters, Inc. | 55,577 | 1,109,317 | |
CarParts.com, Inc. (a) | 198,007 | 198,007 | |
Carvana Co. Class A (a)(b) | 23,218 | 2,988,621 | |
Murphy U.S.A., Inc. | 1,411 | 662,408 | |
Petco Health & Wellness Co., Inc. Class A (a) | 43,300 | 163,674 | |
Sally Beauty Holdings, Inc. (a) | 89,718 | 962,674 | |
Sonic Automotive, Inc. Class A (sub. vtg.) | 25,671 | 1,398,299 | |
The Container Store Group, Inc. (a) | 81,939 | 44,247 | |
The ODP Corp. (a) | 52,760 | 2,071,885 | |
Upbound Group, Inc. | 80,086 | 2,458,640 | |
Urban Outfitters, Inc. (a) | 31,973 | 1,312,492 | |
18,253,573 | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Rocky Brands, Inc. | 7,381 | 272,802 | |
TOTAL CONSUMER DISCRETIONARY | 59,254,418 | ||
CONSUMER STAPLES - 3.5% | |||
Beverages - 1.2% | |||
Coca-Cola Consolidated, Inc. | 2,881 | 3,125,885 | |
Primo Water Corp. | 169,758 | 3,710,910 | |
6,836,795 | |||
Consumer Staples Distribution & Retail - 0.7% | |||
Ingles Markets, Inc. Class A | 8,948 | 613,922 | |
Natural Grocers by Vitamin Cottage, Inc. | 20,376 | 431,971 | |
PriceSmart, Inc. | 2,405 | 195,286 | |
Sprouts Farmers Market LLC (a) | 24,761 | 2,071,505 | |
Weis Markets, Inc. | 10,239 | 642,702 | |
3,955,386 | |||
Food Products - 0.8% | |||
B&G Foods, Inc. (b) | 43,463 | 351,181 | |
Fresh Del Monte Produce, Inc. | 89,406 | 1,953,521 | |
John B. Sanfilippo & Son, Inc. | 8,876 | 862,481 | |
Vital Farms, Inc. (a) | 27,653 | 1,293,331 | |
4,460,514 | |||
Household Products - 0.3% | |||
WD-40 Co. | 7,247 | 1,591,731 | |
Personal Care Products - 0.5% | |||
elf Beauty, Inc. (a) | 14,153 | 2,982,320 | |
Tobacco - 0.0% | |||
Turning Point Brands, Inc. | 8,242 | 264,486 | |
TOTAL CONSUMER STAPLES | 20,091,232 | ||
ENERGY - 5.9% | |||
Energy Equipment & Services - 1.7% | |||
Archrock, Inc. | 4,313 | 87,209 | |
Bristow Group, Inc. (a) | 19,272 | 646,190 | |
Championx Corp. | 28,221 | 937,219 | |
Helix Energy Solutions Group, Inc. (a) | 108,060 | 1,290,236 | |
Kodiak Gas Services, Inc. | 40,142 | 1,094,271 | |
Nabors Industries Ltd. (a)(b) | 26,304 | 1,871,793 | |
Nabors Industries Ltd. warrants 6/11/26 (a) | 10,764 | 71,042 | |
Oceaneering International, Inc. (a) | 3,820 | 90,381 | |
Oil States International, Inc. (a) | 42,348 | 188,025 | |
Tidewater, Inc. (a) | 10,611 | 1,010,273 | |
Transocean Ltd. (United States) (a) | 104,848 | 560,937 | |
Weatherford International PLC (a) | 14,569 | 1,783,974 | |
9,631,550 | |||
Oil, Gas & Consumable Fuels - 4.2% | |||
Ardmore Shipping Corp. | 37,805 | 851,747 | |
California Resources Corp. | 40,262 | 2,142,744 | |
Civitas Resources, Inc. | 34,184 | 2,358,696 | |
CONSOL Energy, Inc. (a) | 3,802 | 387,918 | |
Crescent Energy, Inc. Class A | 135,443 | 1,605,000 | |
Delek U.S. Holdings, Inc. | 61,807 | 1,530,341 | |
DHT Holdings, Inc. | 2,532 | 29,295 | |
Equitrans Midstream Corp. | 44,934 | 583,243 | |
Excelerate Energy, Inc. | 5,556 | 102,453 | |
Green Plains, Inc. (a)(b) | 116,041 | 1,840,410 | |
Kinetik Holdings, Inc. | 4,586 | 190,044 | |
Matador Resources Co. | 51,740 | 3,083,704 | |
Murphy Oil Corp. | 95,615 | 3,943,163 | |
Overseas Shipholding Group, Inc. Class A | 45,371 | 384,746 | |
PBF Energy, Inc. Class A | 7,415 | 341,238 | |
Riley Exploration Permian, Inc. (b) | 25,328 | 717,036 | |
Scorpio Tankers, Inc. | 17,072 | 1,387,783 | |
SFL Corp. Ltd. | 16,891 | 234,447 | |
Teekay Tankers Ltd. | 18,106 | 1,245,874 | |
Uranium Energy Corp. (a)(b) | 40,168 | 241,410 | |
World Kinect Corp. | 34,819 | 898,330 | |
24,099,622 | |||
TOTAL ENERGY | 33,731,172 | ||
FINANCIALS - 15.0% | |||
Banks - 6.6% | |||
1st Source Corp. | 13,970 | 749,071 | |
Amalgamated Financial Corp. | 5,327 | 145,960 | |
Ameris Bancorp | 41,150 | 2,071,903 | |
Atlantic Union Bankshares Corp. (b) | 35,156 | 1,154,875 | |
Axos Financial, Inc. (a) | 24,024 | 1,372,972 | |
BancFirst Corp. | 34,023 | 2,983,817 | |
Bancorp, Inc., Delaware (a) | 42,277 | 1,596,380 | |
Banner Corp. | 21,942 | 1,089,201 | |
Byline Bancorp, Inc. | 11,106 | 263,656 | |
Cadence Bank | 48,427 | 1,369,516 | |
Capital City Bank Group, Inc. | 2,715 | 77,215 | |
Central Pacific Financial Corp. | 33,899 | 718,659 | |
Community Bank System, Inc. | 23,393 | 1,104,384 | |
Community Trust Bancorp, Inc. | 8,194 | 357,750 | |
CVB Financial Corp. (b) | 50,350 | 868,034 | |
Financial Institutions, Inc. | 17,255 | 333,367 | |
First Bancorp, Puerto Rico | 139,452 | 2,550,577 | |
First Busey Corp. | 34,254 | 829,289 | |
First Commonwealth Financial Corp. | 8,212 | 113,408 | |
First Financial Bankshares, Inc. | 21,202 | 626,095 | |
Great Southern Bancorp, Inc. (b) | 26,378 | 1,466,881 | |
Hancock Whitney Corp. | 19,442 | 929,911 | |
Hope Bancorp, Inc. | 15,036 | 161,487 | |
Lakeland Financial Corp. (b) | 36,450 | 2,242,404 | |
Mercantile Bank Corp. | 3,872 | 157,087 | |
Midland States Bancorp, Inc. | 10,124 | 229,309 | |
NBT Bancorp, Inc. | 5,048 | 194,853 | |
Northfield Bancorp, Inc. | 37,545 | 355,927 | |
Northwest Bancshares, Inc. | 138,276 | 1,597,088 | |
OFG Bancorp | 31,713 | 1,187,652 | |
Peapack-Gladstone Financial Corp. | 12,984 | 294,088 | |
Provident Financial Services, Inc. | 169,558 | 2,433,157 | |
Renasant Corp. | 56,272 | 1,718,547 | |
Sierra Bancorp | 16,592 | 371,329 | |
Stellar Bancorp, Inc. (b) | 5,502 | 126,326 | |
UMB Financial Corp. | 29,211 | 2,436,782 | |
Univest Corp. of Pennsylvania | 10,072 | 229,944 | |
Westamerica Bancorp. | 24,902 | 1,208,494 | |
37,717,395 | |||
Capital Markets - 3.4% | |||
Assetmark Financial Holdings, Inc. (a) | 80,407 | 2,778,062 | |
BGC Group, Inc. Class A | 432,926 | 3,593,286 | |
Federated Hermes, Inc. | 78,107 | 2,568,158 | |
Oppenheimer Holdings, Inc. Class A (non-vtg.) | 5,632 | 269,829 | |
Piper Sandler Cos. | 3,594 | 827,231 | |
Stifel Financial Corp. | 26,736 | 2,249,834 | |
StoneX Group, Inc. (a) | 26,192 | 1,972,520 | |
Virtus Investment Partners, Inc. | 9,745 | 2,200,908 | |
WisdomTree Investments, Inc. (b) | 339,721 | 3,366,635 | |
19,826,463 | |||
Consumer Finance - 0.8% | |||
EZCORP, Inc. (non-vtg.) Class A (a)(b) | 96,356 | 1,008,847 | |
PROG Holdings, Inc. | 86,331 | 2,993,959 | |
Regional Management Corp. | 13,844 | 397,877 | |
4,400,683 | |||
Financial Services - 1.8% | |||
AvidXchange Holdings, Inc. (a) | 169,946 | 2,049,549 | |
Compass Diversified Holdings | 68,975 | 1,509,863 | |
Enact Holdings, Inc. | 44,810 | 1,373,875 | |
Flywire Corp. (a) | 22,903 | 375,380 | |
Jackson Financial, Inc. | 18,379 | 1,364,825 | |
Payoneer Global, Inc. (a) | 566,424 | 3,137,989 | |
Waterstone Financial, Inc. | 32,952 | 421,456 | |
10,232,937 | |||
Insurance - 1.7% | |||
Amerisafe, Inc. | 20,061 | 880,477 | |
CNO Financial Group, Inc. | 14,958 | 414,636 | |
Genworth Financial, Inc. Class A (a) | 218,149 | 1,317,620 | |
HCI Group, Inc. (b) | 14,777 | 1,361,996 | |
Horace Mann Educators Corp. (b) | 4,368 | 142,484 | |
Lemonade, Inc. (a)(b) | 87,245 | 1,439,543 | |
Oscar Health, Inc. Class A (a) | 50,777 | 803,292 | |
Palomar Holdings, Inc. (a) | 300 | 24,345 | |
Selective Insurance Group, Inc. | 40,000 | 3,753,200 | |
10,137,593 | |||
Mortgage Real Estate Investment Trusts - 0.7% | |||
Apollo Commercial Real Estate Finance, Inc. | 49,233 | 481,991 | |
BrightSpire Capital, Inc. | 87,594 | 499,286 | |
KKR Real Estate Finance Trust, Inc. (b) | 127,874 | 1,157,260 | |
Ladder Capital Corp. Class A | 58,866 | 664,597 | |
TPG RE Finance Trust, Inc. | 118,881 | 1,027,132 | |
3,830,266 | |||
TOTAL FINANCIALS | 86,145,337 | ||
HEALTH CARE - 14.9% | |||
Biotechnology - 7.7% | |||
2seventy bio, Inc. (a)(b) | 58,072 | 223,577 | |
ACADIA Pharmaceuticals, Inc. (a) | 41,488 | 674,180 | |
Acelyrin, Inc. (a) | 34,650 | 152,807 | |
Adaptimmune Therapeutics PLC sponsored ADR (a)(b) | 111,698 | 108,894 | |
Adicet Bio, Inc. (a)(b) | 153,842 | 186,149 | |
ADMA Biologics, Inc. (a) | 26,227 | 293,218 | |
Adverum Biotechnologies, Inc. (a) | 13,361 | 91,656 | |
Affimed NV (a)(b) | 9,142 | 49,824 | |
Agenus, Inc. (a)(b) | 35,183 | 589,315 | |
Agios Pharmaceuticals, Inc. (a) | 6,360 | 274,243 | |
Akebia Therapeutics, Inc. (a) | 293,477 | 299,347 | |
Alector, Inc. (a) | 44,330 | 201,258 | |
Alkermes PLC (a) | 45,699 | 1,101,346 | |
Allakos, Inc. (a) | 233,829 | 233,829 | |
Allovir, Inc. (a)(b) | 83,484 | 60,384 | |
ALX Oncology Holdings, Inc. (a) | 18,232 | 109,939 | |
Amicus Therapeutics, Inc. (a) | 95,846 | 950,792 | |
Anika Therapeutics, Inc. (a) | 10,801 | 273,589 | |
Annexon, Inc. (a) | 58,386 | 286,091 | |
Apogee Therapeutics, Inc. | 1,800 | 70,830 | |
Arbutus Biopharma Corp. (a)(b) | 38,294 | 118,328 | |
Arcturus Therapeutics Holdings, Inc. (a) | 20,392 | 496,545 | |
Arcutis Biotherapeutics, Inc. (a)(b) | 64,366 | 598,604 | |
Ardelyx, Inc. (a) | 20,284 | 150,304 | |
Arrowhead Pharmaceuticals, Inc. (a) | 12,570 | 326,694 | |
Assembly Biosciences, Inc. (a) | 8,206 | 112,586 | |
Atara Biotherapeutics, Inc. (a) | 6,352 | 53,992 | |
Atreca, Inc. (a)(c) | 1,061 | 95 | |
Avidity Biosciences, Inc. (a) | 4,938 | 201,717 | |
Beam Therapeutics, Inc. (a) | 7,045 | 165,064 | |
BioCryst Pharmaceuticals, Inc. (a) | 93,470 | 577,645 | |
Biohaven Ltd. (a) | 23,571 | 818,149 | |
bluebird bio, Inc. (a) | 27,396 | 26,963 | |
Blueprint Medicines Corp. (a) | 11,889 | 1,281,396 | |
Bolt Biotherapeutics, Inc. (a)(b) | 56,717 | 42,538 | |
BridgeBio Pharma, Inc. (a) | 21,228 | 537,705 | |
CareDx, Inc. (a) | 39,483 | 613,171 | |
Carisma Therapeutics, Inc. (a)(b) | 17,028 | 25,883 | |
Carisma Therapeutics, Inc. rights (a)(c) | 304,482 | 3 | |
Cartesian Therapeutics, Inc. rights (a)(c) | 85,524 | 11,973 | |
Catalyst Pharmaceutical Partners, Inc. (a) | 41,479 | 642,510 | |
Celldex Therapeutics, Inc. (a) | 16,103 | 595,972 | |
Cogent Biosciences, Inc. (a) | 20,047 | 168,996 | |
Coherus BioSciences, Inc. (a)(b) | 101,824 | 176,156 | |
Corbus Pharmaceuticals Holdings, Inc. (a) | 5,405 | 244,576 | |
Crinetics Pharmaceuticals, Inc. (a) | 11,460 | 513,293 | |
Cytokinetics, Inc. (a) | 20,499 | 1,110,636 | |
CytomX Therapeutics, Inc. (a) | 119,373 | 145,635 | |
Denali Therapeutics, Inc. (a) | 11,664 | 270,838 | |
Design Therapeutics, Inc. (a)(b) | 47,305 | 158,472 | |
Disc Medicine, Inc. (a) | 5,131 | 231,254 | |
Dynavax Technologies Corp. (a) | 9,881 | 110,964 | |
Dyne Therapeutics, Inc. (a) | 17,355 | 612,458 | |
Eagle Pharmaceuticals, Inc. (a)(b) | 13,232 | 74,099 | |
Editas Medicine, Inc. (a)(b) | 46,898 | 219,014 | |
Emergent BioSolutions, Inc. (a)(b) | 56,790 | 387,308 | |
Enanta Pharmaceuticals, Inc. (a) | 17,765 | 230,412 | |
Erasca, Inc. (a) | 129,651 | 305,976 | |
Fate Therapeutics, Inc. (a) | 99,316 | 325,756 | |
FibroGen, Inc. (a) | 189,644 | 169,219 | |
Fortress Biotech, Inc. (a)(b) | 4,032 | 6,895 | |
G1 Therapeutics, Inc. (a) | 51,389 | 117,167 | |
Geron Corp. (a) | 69,386 | 294,197 | |
Gritstone Bio, Inc. (a)(b) | 224,374 | 138,641 | |
Halozyme Therapeutics, Inc. (a) | 34,149 | 1,788,042 | |
Heron Therapeutics, Inc. (a)(b) | 196,713 | 688,496 | |
Humacyte, Inc. Class A (a)(b) | 43,619 | 209,371 | |
Ideaya Biosciences, Inc. (a) | 6,592 | 231,445 | |
Immunovant, Inc. (a) | 7,406 | 195,518 | |
Inhibrx Biosciences, Inc. (b) | 15,936 | 225,813 | |
Insmed, Inc. (a) | 41,844 | 2,803,548 | |
Intellia Therapeutics, Inc. (a) | 7,782 | 174,161 | |
Iovance Biotherapeutics, Inc. (a) | 17,683 | 141,818 | |
Ironwood Pharmaceuticals, Inc. Class A (a) | 78,328 | 510,699 | |
Jounce Therapeutics, Inc. rights (a)(c) | 118,367 | 1 | |
Kalvista Pharmaceuticals, Inc. (a)(b) | 27,119 | 319,462 | |
Karyopharm Therapeutics, Inc. (a) | 189,548 | 164,452 | |
Kodiak Sciences, Inc. (a) | 91,420 | 214,837 | |
Krystal Biotech, Inc. (a) | 2,953 | 542,289 | |
Kura Oncology, Inc. (a) | 39,447 | 812,214 | |
Madrigal Pharmaceuticals, Inc. (a)(b) | 3,056 | 856,169 | |
Mersana Therapeutics, Inc. (a)(b) | 67,383 | 135,440 | |
MiMedx Group, Inc. (a) | 22,505 | 155,960 | |
Mustang Bio, Inc. (a)(b) | 5,203 | 2,461 | |
Myriad Genetics, Inc. (a) | 30,405 | 743,706 | |
Nkarta, Inc. (a) | 33,564 | 198,363 | |
Novavax, Inc. (a) | 10,570 | 133,816 | |
Nurix Therapeutics, Inc. (a)(b) | 35,746 | 746,019 | |
Nuvalent, Inc. Class A (a) | 1,727 | 131,010 | |
Oncternal Therapeutics, Inc. rights (a)(c) | 1,148 | 0 | |
Organogenesis Holdings, Inc. Class A (a) | 95,945 | 268,646 | |
ORIC Pharmaceuticals, Inc. (a) | 45,084 | 318,744 | |
Precigen, Inc. (a)(b) | 157,096 | 248,212 | |
Protagonist Therapeutics, Inc. (a) | 4,159 | 144,109 | |
PTC Therapeutics, Inc. (a) | 23,365 | 714,502 | |
Puma Biotechnology, Inc. (a)(b) | 53,472 | 174,319 | |
Q32 Bio, Inc. (a) | 2,531 | 45,431 | |
Q32 Bio, Inc. rights (a)(c) | 40,603 | 0 | |
RAPT Therapeutics, Inc. (a) | 8,720 | 26,596 | |
Recursion Pharmaceuticals, Inc. Class A (a)(b) | 24,699 | 185,243 | |
Relay Therapeutics, Inc. (a)(b) | 34,569 | 225,390 | |
Revolution Medicines, Inc. (a) | 27,797 | 1,078,802 | |
Rhythm Pharmaceuticals, Inc. (a)(b) | 3,841 | 157,711 | |
Rigel Pharmaceuticals, Inc. (a) | 13,826 | 113,650 | |
Rocket Pharmaceuticals, Inc. (a) | 26,050 | 560,857 | |
Sage Therapeutics, Inc. (a) | 23,732 | 257,730 | |
Sana Biotechnology, Inc. (a)(b) | 45,675 | 249,386 | |
Sangamo Therapeutics, Inc. (a)(b) | 198,275 | 71,042 | |
Scholar Rock Holding Corp. (a) | 7,904 | 65,840 | |
SpringWorks Therapeutics, Inc. (a) | 7,122 | 268,286 | |
Summit Therapeutics, Inc. (a)(b) | 15,886 | 123,911 | |
Surface Oncology, Inc. rights (a)(c) | 60,289 | 1 | |
Sutro Biopharma, Inc. (a) | 86,806 | 254,342 | |
Syndax Pharmaceuticals, Inc. (a) | 24,584 | 504,710 | |
Taysha Gene Therapies, Inc. (a) | 166,373 | 372,676 | |
Tenaya Therapeutics, Inc. (a) | 54,264 | 168,218 | |
TG Therapeutics, Inc. (a) | 15,132 | 269,198 | |
Travere Therapeutics, Inc. (a) | 66,491 | 546,556 | |
Twist Bioscience Corp. (a) | 22,040 | 1,086,131 | |
Vanda Pharmaceuticals, Inc. (a)(b) | 65,874 | 372,188 | |
Vaxcyte, Inc. (a) | 21,572 | 1,628,902 | |
Vera Therapeutics, Inc. (a) | 20,278 | 733,658 | |
Veracyte, Inc. (a)(b) | 26,746 | 579,586 | |
Vericel Corp. (a) | 3,571 | 163,837 | |
Voyager Therapeutics, Inc. (a)(b) | 41,743 | 330,187 | |
Xbiotech, Inc. (a) | 14,492 | 74,489 | |
Y-mAbs Therapeutics, Inc. (a) | 14,661 | 177,105 | |
Zentalis Pharmaceuticals, Inc. (a) | 12,499 | 51,121 | |
44,377,489 | |||
Health Care Equipment & Supplies - 3.5% | |||
Accuray, Inc. (a) | 275,189 | 500,844 | |
Alphatec Holdings, Inc. (a) | 12,477 | 130,385 | |
Angiodynamics, Inc. (a) | 14,911 | 90,212 | |
Artivion, Inc. (a) | 56,405 | 1,446,788 | |
Atricure, Inc. (a) | 43,194 | 983,527 | |
Avanos Medical, Inc. (a) | 64,663 | 1,288,087 | |
AxoGen, Inc. (a) | 13,943 | 100,947 | |
Axonics, Inc. (a) | 2,975 | 200,009 | |
Cerus Corp. (a)(b) | 231,868 | 408,088 | |
CONMED Corp. | 48,652 | 3,372,557 | |
Haemonetics Corp. (a) | 10,577 | 875,035 | |
Inari Medical, Inc. (a) | 22,147 | 1,066,378 | |
Integra LifeSciences Holdings Corp. (a) | 30,086 | 876,706 | |
IRadimed Corp. | 9 | 395 | |
Lantheus Holdings, Inc. (a) | 16,120 | 1,294,275 | |
LivaNova PLC (a) | 8,725 | 478,305 | |
Merit Medical Systems, Inc. (a) | 29,044 | 2,496,332 | |
RxSight, Inc. (a) | 55,289 | 3,326,739 | |
Tactile Systems Technology, Inc. (a) | 36,209 | 432,335 | |
Treace Medical Concepts, Inc. (a) | 19,485 | 129,575 | |
Zimvie, Inc. (a) | 18,249 | 333,044 | |
19,830,563 | |||
Health Care Providers & Services - 1.7% | |||
23andMe Holding Co. Class A (a)(b) | 468,196 | 183,158 | |
Addus HomeCare Corp. (a) | 7,722 | 896,601 | |
AMN Healthcare Services, Inc. (a) | 17,333 | 887,970 | |
BrightSpring Health Services, Inc. | 165,248 | 1,877,217 | |
Brookdale Senior Living, Inc. (a) | 78,689 | 537,446 | |
Guardant Health, Inc. (a) | 81,684 | 2,359,034 | |
HealthEquity, Inc. (a) | 7,830 | 674,946 | |
Hims & Hers Health, Inc. (a) | 9,160 | 184,940 | |
Option Care Health, Inc. (a) | 61,613 | 1,706,680 | |
Patterson Companies, Inc. | 17,044 | 411,101 | |
Talkspace, Inc. Class A (a) | 52,842 | 121,537 | |
9,840,630 | |||
Health Care Technology - 0.5% | |||
Health Catalyst, Inc. (a) | 93,560 | 597,848 | |
HealthStream, Inc. | 43,303 | 1,208,154 | |
Phreesia, Inc. (a) | 39,291 | 832,969 | |
Veradigm, Inc. (a)(b) | 42,522 | 403,959 | |
3,042,930 | |||
Life Sciences Tools & Services - 0.3% | |||
Adaptive Biotechnologies Corp. (a)(b) | 63,760 | 230,811 | |
Codexis, Inc. (a)(b) | 100,489 | 311,516 | |
Cytek Biosciences, Inc. (a) | 65,404 | 364,954 | |
Medpace Holdings, Inc. (a) | 1,418 | 584,003 | |
Nanostring Technologies, Inc. (a)(b)(c) | 84,939 | 6,099 | |
OmniAb, Inc. (a)(b) | 72,199 | 270,746 | |
Pacific Biosciences of California, Inc. (a)(b) | 26,060 | 35,702 | |
1,803,831 | |||
Pharmaceuticals - 1.2% | |||
Amneal Intermediate, Inc. Class A, (a) | 93,405 | 593,122 | |
Amphastar Pharmaceuticals, Inc. (a) | 14,469 | 578,760 | |
Amylyx Pharmaceuticals, Inc. (a) | 12,268 | 23,309 | |
ANI Pharmaceuticals, Inc. (a) | 8,702 | 554,143 | |
Arvinas Holding Co. LLC (a) | 16,463 | 438,245 | |
Atea Pharmaceuticals, Inc. (a) | 43,885 | 145,259 | |
Axsome Therapeutics, Inc. (a) | 4,780 | 384,790 | |
Cara Therapeutics, Inc. (a) | 107,219 | 27,663 | |
Corcept Therapeutics, Inc. (a) | 9,800 | 318,402 | |
Edgewise Therapeutics, Inc. (a) | 13,732 | 247,313 | |
Evolus, Inc. (a) | 27,585 | 299,297 | |
Harmony Biosciences Holdings, Inc. (a) | 13,554 | 408,924 | |
Pacira Biosciences, Inc. (a) | 3,621 | 103,597 | |
Phibro Animal Health Corp. Class A | 13,119 | 220,006 | |
Prestige Consumer Healthcare, Inc. (a) | 17,845 | 1,228,628 | |
Relmada Therapeutics, Inc. (a) | 58,393 | 175,179 | |
Revance Therapeutics, Inc. (a)(b) | 96,408 | 247,769 | |
SIGA Technologies, Inc. | 19,003 | 144,233 | |
Supernus Pharmaceuticals, Inc. (a) | 2,822 | 75,489 | |
Terns Pharmaceuticals, Inc. (a) | 37,916 | 258,208 | |
Ventyx Biosciences, Inc. (a) | 7,077 | 16,348 | |
WAVE Life Sciences (a) | 36,059 | 179,934 | |
6,668,618 | |||
TOTAL HEALTH CARE | 85,564,061 | ||
INDUSTRIALS - 18.9% | |||
Aerospace & Defense - 0.9% | |||
AAR Corp. (a) | 50,499 | 3,671,277 | |
Astronics Corp. (a) | 19,520 | 390,986 | |
Ducommun, Inc. (a) | 15,209 | 883,035 | |
Park Aerospace Corp. | 11,796 | 161,369 | |
Virgin Galactic Holdings, Inc. (a)(b) | 12,963 | 109,278 | |
5,215,945 | |||
Building Products - 1.3% | |||
American Woodmark Corp. (a) | 7,033 | 552,794 | |
Apogee Enterprises, Inc. | 30,983 | 1,946,817 | |
Gibraltar Industries, Inc. (a) | 21,714 | 1,488,495 | |
Griffon Corp. | 26,482 | 1,691,141 | |
Janus International Group, Inc. (a) | 49,087 | 619,969 | |
Resideo Technologies, Inc. (a) | 68,368 | 1,337,278 | |
7,636,494 | |||
Commercial Services & Supplies - 3.1% | |||
ABM Industries, Inc. | 39,329 | 1,988,868 | |
Brady Corp. Class A | 42,993 | 2,838,398 | |
CECO Environmental Corp. (a) | 97,170 | 2,803,355 | |
Cimpress PLC (a)(b) | 36,210 | 3,172,358 | |
HNI Corp. | 24,394 | 1,098,218 | |
Interface, Inc. (b) | 24,368 | 357,722 | |
OpenLane, Inc. (a) | 189,496 | 3,143,739 | |
The Brink's Co. | 17,740 | 1,816,576 | |
The GEO Group, Inc. (a) | 40,671 | 584,036 | |
17,803,270 | |||
Construction & Engineering - 1.9% | |||
Arcosa, Inc. | 5,594 | 466,596 | |
Comfort Systems U.S.A., Inc. | 6,930 | 2,107,552 | |
Dycom Industries, Inc. (a) | 5,480 | 924,805 | |
EMCOR Group, Inc. | 7,886 | 2,879,021 | |
Fluor Corp. (a) | 72,801 | 3,170,484 | |
IES Holdings, Inc. (a) | 1,133 | 157,861 | |
Limbach Holdings, Inc. (a)(b) | 19,270 | 1,097,041 | |
10,803,360 | |||
Electrical Equipment - 1.9% | |||
Array Technologies, Inc. (a) | 63,598 | 652,515 | |
Atkore, Inc. | 7,570 | 1,021,420 | |
EnerSys | 36,610 | 3,789,867 | |
Enovix Corp. (a) | 16,338 | 252,585 | |
Fluence Energy, Inc. (a) | 24,190 | 419,455 | |
LSI Industries, Inc. | 37,674 | 545,143 | |
Powell Industries, Inc. (b) | 2,487 | 356,636 | |
Preformed Line Products Co. (b) | 12,242 | 1,524,619 | |
Thermon Group Holdings, Inc. (a) | 16,774 | 515,968 | |
Vicor Corp. (a) | 46,033 | 1,526,454 | |
10,604,662 | |||
Ground Transportation - 0.3% | |||
Marten Transport Ltd. | 100,278 | 1,850,129 | |
Machinery - 3.7% | |||
Albany International Corp. Class A | 7,230 | 610,574 | |
Blue Bird Corp. (a) | 6,557 | 353,094 | |
Chart Industries, Inc. (a) | 10,066 | 1,452,926 | |
Enerpac Tool Group Corp. Class A | 42,606 | 1,626,697 | |
Federal Signal Corp. | 8,275 | 692,369 | |
Gorman-Rupp Co. | 5,665 | 207,962 | |
Hurco Companies, Inc. | 19,036 | 290,489 | |
Hyster-Yale Materials Handling, Inc. Class A | 24,289 | 1,693,672 | |
L.B. Foster Co. Class A (a) | 7,447 | 160,259 | |
Mueller Water Products, Inc. | 195,499 | 3,503,342 | |
Proto Labs, Inc. (a) | 13,475 | 416,243 | |
Tennant Co. | 20,752 | 2,042,827 | |
Terex Corp. | 62,951 | 3,452,233 | |
Trinity Industries, Inc. | 48,369 | 1,447,200 | |
Watts Water Technologies, Inc. Class A | 17,435 | 3,197,056 | |
21,146,943 | |||
Marine Transportation - 0.6% | |||
Matson, Inc. | 28,216 | 3,695,450 | |
Passenger Airlines - 0.7% | |||
Joby Aviation, Inc. (a) | 37,520 | 191,352 | |
SkyWest, Inc. (a) | 46,527 | 3,818,471 | |
4,009,823 | |||
Professional Services - 2.2% | |||
Barrett Business Services, Inc. | 48,632 | 1,593,671 | |
CRA International, Inc. | 4,548 | 783,257 | |
CSG Systems International, Inc. | 73,892 | 3,042,134 | |
ExlService Holdings, Inc. (a) | 80,101 | 2,511,967 | |
Huron Consulting Group, Inc. (a) | 11,580 | 1,140,630 | |
Parsons Corp. (a) | 22,940 | 1,876,721 | |
Planet Labs PBC Class A (a)(b) | 185,871 | 345,720 | |
TriNet Group, Inc. | 1,474 | 147,400 | |
Ttec Holdings, Inc. | 61 | 359 | |
Upwork, Inc. (a) | 90,534 | 973,241 | |
12,415,100 | |||
Trading Companies & Distributors - 2.3% | |||
Applied Industrial Technologies, Inc. | 22,692 | 4,402,248 | |
Beacon Roofing Supply, Inc. (a) | 1,945 | 176,023 | |
Boise Cascade Co. | 1,777 | 211,854 | |
DXP Enterprises, Inc. (a) | 10,501 | 481,366 | |
FTAI Aviation Ltd. | 31,347 | 3,235,951 | |
GATX Corp. (b) | 5,979 | 791,380 | |
Global Industrial Co. | 14,859 | 465,978 | |
H&E Equipment Services, Inc. | 36,145 | 1,596,525 | |
McGrath RentCorp. | 1,112 | 118,484 | |
MRC Global, Inc. (a) | 42,955 | 554,549 | |
Rush Enterprises, Inc. Class A | 28,711 | 1,202,130 | |
13,236,488 | |||
TOTAL INDUSTRIALS | 108,417,664 | ||
INFORMATION TECHNOLOGY - 14.9% | |||
Communications Equipment - 0.3% | |||
CommScope Holding Co., Inc. (a) | 522,714 | 642,938 | |
Extreme Networks, Inc. (a) | 78,492 | 1,055,717 | |
1,698,655 | |||
Electronic Equipment, Instruments & Components - 4.0% | |||
Arlo Technologies, Inc. (a) | 101,122 | 1,318,631 | |
Badger Meter, Inc. | 12,543 | 2,337,388 | |
Belden, Inc. | 36,964 | 3,467,223 | |
Benchmark Electronics, Inc. | 57,520 | 2,269,739 | |
Fabrinet (a) | 20,144 | 4,931,034 | |
Itron, Inc. (a) | 33,057 | 3,271,321 | |
Kimball Electronics, Inc. (a) | 23,042 | 506,463 | |
OSI Systems, Inc. (a) | 1,705 | 234,472 | |
Ouster, Inc. Class A (a) | 38,241 | 375,909 | |
PC Connection, Inc. | 17,829 | 1,144,622 | |
Sanmina Corp. (a) | 49,170 | 3,257,513 | |
23,114,315 | |||
Semiconductors & Semiconductor Equipment - 3.5% | |||
Ambarella, Inc. (a) | 4,197 | 226,428 | |
Axcelis Technologies, Inc. (a) | 6,170 | 877,312 | |
Credo Technology Group Holding Ltd. (a) | 78,818 | 2,517,447 | |
Diodes, Inc. (a) | 2,863 | 205,936 | |
Lattice Semiconductor Corp. (a) | 29,475 | 1,709,255 | |
MaxLinear, Inc. Class A (a) | 104,903 | 2,112,746 | |
Onto Innovation, Inc. (a) | 2,155 | 473,152 | |
PDF Solutions, Inc. (a) | 67,801 | 2,466,600 | |
Photronics, Inc. (a) | 49,959 | 1,232,489 | |
Rambus, Inc. (a) | 24,578 | 1,444,203 | |
Semtech Corp. (a) | 112,677 | 3,366,789 | |
SMART Global Holdings, Inc. (a) | 140,999 | 3,224,647 | |
19,857,004 | |||
Software - 6.5% | |||
8x8, Inc. (a)(b) | 698,446 | 1,550,550 | |
AppFolio, Inc. Class A, (a)(b) | 2,411 | 589,658 | |
Aurora Innovation, Inc. Class A, (a)(b) | 80,177 | 222,090 | |
BlackLine, Inc. (a) | 49,577 | 2,402,006 | |
Clear Secure, Inc. (b) | 73,750 | 1,379,863 | |
CommVault Systems, Inc. (a) | 31,686 | 3,852,067 | |
Domo, Inc. Class B (a)(b) | 114,022 | 880,250 | |
E2open Parent Holdings, Inc. (a) | 69,713 | 313,011 | |
Everbridge, Inc. (a) | 6,660 | 233,033 | |
Intapp, Inc. (a) | 20,688 | 758,629 | |
Jamf Holding Corp. (a) | 30,260 | 499,290 | |
LivePerson, Inc. (a)(b) | 297,541 | 172,723 | |
Liveramp Holdings, Inc. (a) | 88,050 | 2,724,267 | |
MeridianLink, Inc. (a) | 13,632 | 291,180 | |
N-able, Inc. (a) | 41,197 | 627,430 | |
ON24, Inc. | 17,677 | 106,239 | |
Pagerduty, Inc. (a)(b) | 62,112 | 1,424,228 | |
Progress Software Corp. | 13,742 | 745,641 | |
PROS Holdings, Inc. (a) | 26,858 | 769,482 | |
Q2 Holdings, Inc. (a) | 62,347 | 3,761,395 | |
Qualys, Inc. (a) | 25,174 | 3,589,812 | |
Sapiens International Corp. NV | 4,500 | 152,685 | |
SecureWorks Corp. (a) | 8,890 | 62,230 | |
Sprinklr, Inc. (a)(b) | 33,885 | 325,974 | |
Sprout Social, Inc. (a)(b) | 20,463 | 730,120 | |
SPS Commerce, Inc. (a) | 22,888 | 4,306,606 | |
Tenable Holdings, Inc. (a) | 31,261 | 1,362,354 | |
Upland Software, Inc. (a) | 40,385 | 100,559 | |
Weave Communications, Inc. (a) | 20,924 | 188,734 | |
Workiva, Inc. (a) | 5,610 | 409,474 | |
Xperi, Inc. (a) | 69,334 | 569,232 | |
Yext, Inc. (a) | 246,584 | 1,319,224 | |
Zuora, Inc. (a) | 118,643 | 1,178,125 | |
37,598,161 | |||
Technology Hardware, Storage & Peripherals - 0.6% | |||
Super Micro Computer, Inc. (a) | 3,465 | 2,839,048 | |
Xerox Holdings Corp. | 30,115 | 349,936 | |
3,188,984 | |||
TOTAL INFORMATION TECHNOLOGY | 85,457,119 | ||
MATERIALS - 5.3% | |||
Chemicals - 2.3% | |||
American Vanguard Corp. | 73,624 | 633,166 | |
Balchem Corp. | 3,717 | 572,232 | |
H.B. Fuller Co. | 48,173 | 3,707,394 | |
Hawkins, Inc. | 13,996 | 1,273,636 | |
Innospec, Inc. | 18,452 | 2,280,483 | |
Minerals Technologies, Inc. | 43,922 | 3,652,554 | |
Sensient Technologies Corp. | 15,801 | 1,172,276 | |
Trinseo PLC | 43,852 | 101,298 | |
13,393,039 | |||
Containers & Packaging - 0.3% | |||
Myers Industries, Inc. | 39,899 | 533,849 | |
Pactiv Evergreen, Inc. | 33,000 | 373,560 | |
TriMas Corp. | 27,367 | 699,501 | |
1,606,910 | |||
Metals & Mining - 2.3% | |||
ATI, Inc. (a) | 40,139 | 2,225,708 | |
Carpenter Technology Corp. | 38,621 | 4,232,089 | |
Constellium NV (a) | 70,220 | 1,323,647 | |
Hecla Mining Co. | 112,727 | 546,726 | |
Materion Corp. | 4,684 | 506,481 | |
Olympic Steel, Inc. | 5,824 | 261,090 | |
SunCoke Energy, Inc. | 155,523 | 1,524,125 | |
Warrior Metropolitan Coal, Inc. | 23,430 | 1,470,701 | |
Worthington Steel, Inc. | 24,169 | 806,278 | |
12,896,845 | |||
Paper & Forest Products - 0.4% | |||
Clearwater Paper Corp. (a) | 20,919 | 1,013,944 | |
Sylvamo Corp. | 19,721 | 1,352,861 | |
2,366,805 | |||
TOTAL MATERIALS | 30,263,599 | ||
REAL ESTATE - 4.1% | |||
Equity Real Estate Investment Trusts (REITs) - 3.5% | |||
Alexanders, Inc. | 1,319 | 296,590 | |
American Assets Trust, Inc. | 90,583 | 2,027,248 | |
Ashford Hospitality Trust, Inc. (a)(b) | 88,598 | 86,073 | |
CareTrust (REIT), Inc. | 44,625 | 1,120,088 | |
Community Healthcare Trust, Inc. | 11,873 | 277,709 | |
EastGroup Properties, Inc. | 14,101 | 2,398,580 | |
Empire State Realty Trust, Inc. | 226,599 | 2,125,499 | |
Equity Commonwealth (a) | 67,792 | 1,315,165 | |
Global Medical REIT, Inc. | 80,921 | 734,763 | |
National Health Investors, Inc. | 21,853 | 1,480,104 | |
NexPoint Residential Trust, Inc. | 5,985 | 236,467 | |
Outfront Media, Inc. | 57,327 | 819,776 | |
Phillips Edison & Co., Inc. | 61,475 | 2,010,847 | |
Retail Opportunity Investments Corp. | 45,243 | 562,370 | |
Ryman Hospitality Properties, Inc. | 16,319 | 1,629,615 | |
SITE Centers Corp. | 48,717 | 706,397 | |
Tanger, Inc. | 20,949 | 567,927 | |
Terreno Realty Corp. | 7,998 | 473,322 | |
The Macerich Co. | 14,099 | 217,689 | |
Uniti Group, Inc. | 133,386 | 389,487 | |
Universal Health Realty Income Trust (SBI) | 7,997 | 313,003 | |
Urban Edge Properties | 2,007 | 37,069 | |
Whitestone REIT | 40,794 | 542,968 | |
20,368,756 | |||
Real Estate Management & Development - 0.6% | |||
Anywhere Real Estate, Inc. (a) | 243,962 | 807,514 | |
Compass, Inc. (a) | 522,356 | 1,880,482 | |
Opendoor Technologies, Inc. Class A (a)(b) | 275,345 | 506,635 | |
RE/MAX Holdings, Inc. Class A | 16,240 | 131,544 | |
3,326,175 | |||
TOTAL REAL ESTATE | 23,694,931 | ||
UTILITIES - 2.2% | |||
Electric Utilities - 0.7% | |||
Allete, Inc. | 16,464 | 1,026,530 | |
Otter Tail Corp. | 30,845 | 2,701,714 | |
3,728,244 | |||
Gas Utilities - 0.6% | |||
New Jersey Resources Corp. | 76,671 | 3,276,919 | |
Independent Power and Renewable Electricity Producers - 0.0% | |||
Altus Power, Inc. Class A (a)(b) | 38,693 | 151,677 | |
Water Utilities - 0.9% | |||
American States Water Co. | 28,929 | 2,099,378 | |
California Water Service Group | 18,727 | 908,072 | |
Consolidated Water Co., Inc. (b) | 7,627 | 202,421 | |
SJW Group | 38,902 | 2,109,266 | |
5,319,137 | |||
TOTAL UTILITIES | 12,475,977 | ||
TOTAL COMMON STOCKS (Cost $509,769,192) | 562,480,446 | ||
U.S. Treasury Obligations - 0.4% | |||
Principal Amount (d) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.28% to 5.32% 7/5/24 to 9/26/24 (e) (Cost $2,100,578) | 2,120,000 | 2,100,613 | |
Money Market Funds - 10.6% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (f) | 31,385,324 | 31,391,601 | |
Fidelity Securities Lending Cash Central Fund 5.38% (f)(g) | 29,675,042 | 29,678,010 | |
TOTAL MONEY MARKET FUNDS (Cost $61,069,610) | 61,069,611 | ||
TOTAL INVESTMENT IN SECURITIES - 109.0% (Cost $572,939,380) | 625,650,670 |
NET OTHER ASSETS (LIABILITIES) - (9.0)% | (51,478,214) |
NET ASSETS - 100.0% | 574,172,456 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini Russell 2000 Index Contracts (United States) | 98 | Sep 2024 | 10,118,500 | 160,719 | 160,719 |
The notional amount of futures purchased as a percentage of Net Assets is 1.8% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Level 3 security |
(d) | Amount is stated in United States dollars unless otherwise noted. |
(e) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $2,005,668. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 8,990,995 | 57,678,758 | 35,278,124 | 210,997 | (28) | - | 31,391,601 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.38% | 21,311,490 | 68,242,224 | 59,875,704 | 15,256 | - | - | 29,678,010 | 0.1% |
Total | 30,302,485 | 125,920,982 | 95,153,828 | 226,253 | (28) | - | 61,069,611 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 17,384,936 | 17,384,936 | - | - |
Consumer Discretionary | 59,254,418 | 59,254,418 | - | - |
Consumer Staples | 20,091,232 | 20,091,232 | - | - |
Energy | 33,731,172 | 33,731,172 | - | - |
Financials | 86,145,337 | 86,145,337 | - | - |
Health Care | 85,564,061 | 85,545,889 | - | 18,172 |
Industrials | 108,417,664 | 108,417,664 | - | - |
Information Technology | 85,457,119 | 85,457,119 | - | - |
Materials | 30,263,599 | 30,263,599 | - | - |
Real Estate | 23,694,931 | 23,694,931 | - | - |
Utilities | 12,475,977 | 12,475,977 | - | - |
U.S. Government and Government Agency Obligations | 2,100,613 | - | 2,100,613 | - |
Money Market Funds | 61,069,611 | 61,069,611 | - | - |
Total Investments in Securities: | 625,650,670 | 623,531,885 | 2,100,613 | 18,172 |
Derivative Instruments: Assets | ||||
Futures Contracts | 160,719 | 160,719 | - | - |
Total Assets | 160,719 | 160,719 | - | - |
Total Derivative Instruments: | 160,719 | 160,719 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 160,719 | 0 |
Total Equity Risk | 160,719 | 0 |
Total Value of Derivatives | 160,719 | 0 |
Statement of Assets and Liabilities | ||||
June 30, 2024 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $28,375,344) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $511,869,770) | $ | 564,581,059 | ||
Fidelity Central Funds (cost $61,069,610) | 61,069,611 | |||
Total Investment in Securities (cost $572,939,380) | $ | 625,650,670 | ||
Cash | 2,768 | |||
Receivable for investments sold | 22,851,124 | |||
Dividends receivable | 416,442 | |||
Distributions receivable from Fidelity Central Funds | 61,267 | |||
Receivable for daily variation margin on futures contracts | 58,306 | |||
Receivable from investment adviser for expense reductions | 16,210 | |||
Other receivables | 22 | |||
Total assets | 649,056,809 | |||
Liabilities | ||||
Payable for investments purchased | $ | 21,760,437 | ||
Payable for fund shares redeemed | 23,289,390 | |||
Accrued management fee | 133,084 | |||
Other payables and accrued expenses | 29,577 | |||
Collateral on securities loaned | 29,671,865 | |||
Total liabilities | 74,884,353 | |||
Net Assets | $ | 574,172,456 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 547,279,769 | ||
Total accumulated earnings (loss) | 26,892,687 | |||
Net Assets | $ | 574,172,456 | ||
Net Asset Value, offering price and redemption price per share ($574,172,456 ÷ 19,721,356 shares) | $ | 29.11 |
Statement of Operations | ||||||
Four months ended June 30, 2024 | Year ended February 29, 2024 | |||||
Investment Income | ||||||
Dividends | $ | 2,461,415 | 6,718,777 | |||
Interest | 19,082 | 26,617 | ||||
Income from Fidelity Central Funds (including $15,256 and $88,263 from security lending) | 226,253 | 467,252 | ||||
Total income | 2,706,750 | 7,212,646 | ||||
Expenses | ||||||
Management fee | $ | 514,102 | 2,551,454 | |||
Independent trustees' fees and expenses | 765 | 3,413 | ||||
Miscellaneous | 25,690 | 11,754 | ||||
Total expenses before reductions | 540,557 | 2,566,621 | ||||
Expense reductions | (16,301) | (3,509) | ||||
Total expenses after reductions | 524,256 | 2,563,112 | ||||
Net Investment income (loss) | 2,182,494 | 4,649,534 | ||||
Realized and Unrealized Gain (Loss) | ||||||
Net realized gain (loss) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | 4,089,824 | 3,174,058 | ||||
Redemptions in-kind | 23,751,146 | 29,724,397 | ||||
Fidelity Central Funds | (28) | 2,245 | ||||
Futures contracts | 233,575 | (106,111) | ||||
Total net realized gain (loss) | 28,074,517 | 32,794,589 | ||||
Change in net unrealized appreciation (depreciation) on: | ||||||
Investment Securities: | ||||||
Unaffiliated issuers | (29,628,072) | 27,423,408 | ||||
Fidelity Central Funds | - | (2,244) | ||||
Futures contracts | (339,928) | 283,082 | ||||
Total change in net unrealized appreciation (depreciation) | (29,968,000) | 27,704,246 | ||||
Net gain (loss) | (1,893,483) | 60,498,835 | ||||
Net increase (decrease) in net assets resulting from operations | $ | 289,011 | 65,148,369 |
See Organization and Merger information note regarding reorganization from mutual fund to exchange traded fund during the prior fiscal year.
Statement of Changes in Net Assets | ||||||
Four months ended June 30, 2024 | Year ended February 29, 2024 | Year ended February 28, 2023 | ||||
Increase (Decrease) in Net Assets | ||||||
Operations | ||||||
Net investment income (loss) | $ | 2,182,494 | $ | 4,649,534 | $ | 5,449,677 |
Net realized gain (loss) | 28,074,517 | 32,794,589 | (26,454,327) | |||
Change in net unrealized appreciation (depreciation) | (29,968,000) | 27,704,246 | 865,031 | |||
Net increase (decrease) in net assets resulting from operations | 289,011 | 65,148,369 | (20,139,619) | |||
Distributions to shareholders | (2,247,305) | (4,715,442) | (28,460,527) | |||
Share transactions | ||||||
Proceeds from sales of shares | 113,489,919 | 117,577,525 | 54,476,948 | |||
Reinvestment of distributions | - | 4,092,903 | 26,941,979 | |||
Cost of shares redeemed | (43,439,075) | (261,496,096) | (102,513,711) | |||
Net increase (decrease) in net assets resulting from share transactions | 70,050,844 | (139,825,668) | (21,094,784) | |||
Total increase (decrease) in net assets | 68,092,550 | (79,392,741) | (69,694,930) | |||
Net Assets | ||||||
Beginning of period | 506,079,906 | 585,472,647 | 655,167,577 | |||
End of period | $ | 574,172,456 | $ | 506,079,906 | $ | 585,472,647 |
Other Information | ||||||
Shares | ||||||
Sold | 3,900,000 | 4,564,341 | 2,217,524 | |||
Issued in reinvestment of distributions | - | 163,135 | 1,060,903 | |||
Redeemed | (1,500,000) | (10,287,720) | (4,201,984) | |||
Net increase (decrease) | 2,400,000 | (5,560,244) | (923,557) | |||
Fidelity® Enhanced Small Cap ETF |
Years ended June 30, | 2024 A | 2024 B,C | 2023 B,D | 2022 B,D | 2021 B,D | 2020 B,C | ||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 29.22 | $ | 25.58 | $ | 27.53 | $ | 34.05 | $ | 22.27 | $ | 24.75 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) E,F | .11 | .22 | .24 | .14 | .16 | .24 | ||||||
Net realized and unrealized gain (loss) | (.10) | 3.65 | (.99) | (.40) | 11.80 | (2.48) | ||||||
Total from investment operations | .01 | 3.87 | (.75) | (.26) | 11.96 | (2.24) | ||||||
Distributions from net investment income | (.12) | (.23) | (.22) | (.14) | (.18) | (.24) | ||||||
Distributions from net realized gain | - | - | (1.00) | (6.12) | - | - | ||||||
Total distributions | (.12) | (.23) | (1.20) G | (6.26) | (.18) | (.24) | ||||||
Net asset value, end of period | $ | 29.11 | $ | 29.22 | $ | 25.58 | $ | 27.53 | $ | 34.05 | $ | 22.27 |
Total Return H,I,J | .06 % | 15.26% | (2.62)% | (1.64)% | 53.78% | (9.18)% | ||||||
Ratios to Average Net Assets F,K,L | ||||||||||||
Expenses before reductions | .28% M,N | .48% | .55% | .63% | .64% | .64% | ||||||
Expenses net of fee waivers, if any | .28 % M,N | .48% | .55% | .63% | .64% | .64% | ||||||
Expenses net of all reductions | .28% M,N | .48% | .55% | .63% | .64% | .64% | ||||||
Net investment income (loss) | 1.20% M,N | .87% | .94% | .41% | .62% | .94% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 574,172 | $ | 506,080 | $ | 585,473 | $ | 655,168 | $ | 689,131 | $ | 515,960 |
Portfolio turnover rate O | 71 % M,P | 97% P | 98% | 96% | 44% | 79% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $101,254,015 |
Gross unrealized depreciation | (51,636,053) |
Net unrealized appreciation (depreciation) | $49,617,962 |
Tax Cost | $576,032,708 |
Undistributed ordinary income | $458,582 |
Capital loss carryforward | $(23,183,857) |
Net unrealized appreciation (depreciation) on securities and other investments | $49,617,962 |
Short-term | $(23,183,857) |
Total capital loss carryforward | $(23,183,857) |
June 30, 2024 | February 29, 2024 | February 28, 2023 | |
Ordinary Income | $2,247,305 | $ 4,715,442 | $ 4,900,302 |
Long-term Capital Gains | - | - | 23,560,225 |
Total | $2,247,305 | $ 4,715,442 | $ 28,460,527 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Enhanced Small Cap ETF | 166,037,952 | 122,930,939 |
In-Kind Subscriptions ($) | In-Kind Redemptions ($) | |
Fidelity Enhanced Small Cap ETF | 66,555,131 | 40,758,295 |
June 30, 2024 | Amount ($) |
Fidelity Enhanced Small Cap ETF | 4,530 |
February 29, 2024 | Amount ($) |
Fidelity Enhanced Small Cap ETF | 1,756 |
Purchases ($) | Sales ($) | Realized Gain (Loss)($) | |
Fidelity Enhanced Small Cap ETF | 6,655,391 | 4,273,376 | 847,342 |
June 30, 2024 | Total Security Lending Fees Paid to NFS ($) | Security Lending Income From Securities Loaned to NFS ($) | Value of Securities Loaned to NFS at Period End ($) |
Fidelity Enhanced Small Cap ETF | 1,545 | 366 | 141,265 |
February 29, 2024 | Total Security Lending Fees Paid to NFS ($) | Security Lending Income From Securities Loaned to NFS ($) | Value of Securities Loaned to NFS at Period End ($) |
Fidelity Enhanced Small Cap ETF | 8,684 | 2,414 | 57,346 |
Reimbursement ($) | |
Fidelity Enhanced Small Cap ETF | 16,210 |
Predecessor Fund/Accounting Survivor | Investments $ | Unrealized appreciation (depreciation) $ | Net Assets $ | Shares Exchanged | Shares Exchanged Ratio |
Fidelity Small Cap Enhanced Index Fund | 510,635,061 | 30,515,551 | 511,993,789 | 20,479,785 | .5077880000 |
Acquiring ETF | Net Assets $ | Total net assets after the acquisition $ |
Fidelity Enhanced Small Cap ETF | 25 | 511,993,814 |
Net investment income (loss) | $5,714,131 |
Total net realized gain (loss) | 32,794,589 |
Total change in net unrealized appreciation (depreciation) | 27,704,246 |
Net increase (decrease) in net assets resulting from operations | $66,212,966 |
Item 8.
Changes in and Disagreements with Accountants for Open-End Management Investment Companies
See Item 7.
Item 9.
Proxy Disclosures for Open-End Management Investment Companies
See Item 7.
Item 10.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
See Item 7.
Item 11.
Statement Regarding Basis for Approval of Investment Advisory Contract
See Item 7.
Item 12.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 13.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 14.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 15.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the trust’s Board of Trustees.
Item 16.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust’s internal control over financial reporting.
Item 17.
Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a)
Not applicable.
(b)
Not applicable.
Item 19.
Exhibits
(a) | (1) | Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Covington Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer (Principal Executive Officer) | |
Date: | August 22, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer (Principal Executive Officer) | |
Date: | August 22, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer (Principal Financial Officer) | |
Date: | August 22, 2024 |